Moreover, the country’s population has passed 100 million in 2020, making Egypt that third most populous in Africa, and the 14th in the world. Although such huge population poses challenges in public services, it is nonetheless one of the greatest assets a country could have for economic growth to be sustained.
Continuous support for investors Another recent factor that has increased Egypt’s attractiveness to international investors is the signing of the African Continental Free Trade Area (AfCFTA) agreement that was signed in March 2018 which aims at reducing both tariff and non-tariff barriers to trade among participating countries. Despite the delay of its implementation (originally scheduled to commence in July 2020) due to Covid-19, the deal is expected to proceed in 2021. The success of this agreement depends on investment in infrastructure, human capital, and education, in addition to improving governance, transparency, and business environment; all of which are included in Egypt’s agenda for economic reform.
