EconSource: Citibank report on Egypt– Fiscal deficit to remain in double digits, inflation unlikely to rise

Follow the latest in economic news and developments about the Arab transition countries. 

Egypt’s fiscal deficit is set to “remain firmly in double digits” with inflation easing in 2014, a Citibank report published in May has said. The report pointed out that “even if a slow pick-up in growth is possible in 2014, we still think that a new government will have to think more comprehensively about economic policy at some point”. [DNE]
The economic working group emanating from the 7th meeting of the Yemen Friends Group held in London on April 29, held on Monday its first meeting in Sana’a. The terms of reference of the economic group, its membership, priorities of economic reforms and the aspects of support required from the international community were reviewed in the meeting. [SABA]
With the almost daily headlines about armed clashes and assassinations in Benghazi, it is hard to imagine that this is a city where new retail shops are opening and commercial activity is increasing. However, for the 15 founders of the Benghazi as an Economic Capital Campaign, this city is poised to become the “economic gateway to Africa and Egypt”. [Libya Herald]
The growth rate of the Moroccan economy reached 4.4 percent in 2013 against 2.7 percent in 2012, on the back of the development of the agricultural activity and the reduction of funding in the context of curbing inflation, according to the high planning commission [HCP].
Yemen is not a major energy resource producer when compared to its Gulf neighbors, but its economy is heavily dependent on oil revenue. What can Yemen do to maximize its oil resources moving forward? [Yemen Times]
Also of Interest:
Public debt in Egypt soared to EGP 1.7 trillion in March | Cairo Post
Egypt Finance Minister: New state budget deals with economic issues realistically | SIS
Egypt: UAE aid package behind dollar rate decline | Egypt Independent
Egypt suffers partial cuts to internet, phone calls | Ahram
Egypt non-oil private sector shrinks at faster rate in May | RTT News
Investors bet on Egypt’s revival under new leader | WSJ
Op-ed: Egypt’s troubled path to securing an IMF loan | The National 
The National Tunisia: Growth of 2.2 percent in Q1 2014 | TAP, Kapitalis (French)
Casablanca, Tunis stock markets sign protocol of agreement | MAP
Kingdom of Morocco mandates banks for bond investor meetings | Reuters, WSJ
Tunisia: dinar ends May with virtually no change against the euro | African Manager
Yemen urges mindful zakat payment | Al-Shorfa
Algeria faces struggle to attract foreign investment once again | AP
Algerian government: 7 percent growth over 5 years | L’economiste Magharebin (French)