Hesham Ezz El Arab expects interest rates to fall to 13% by 2026

The Executive Chairman of the International Trade Bank, Egypt (CIB), expected interest rates to decline significantly by the end of 2026, ranging from 12 per cent to 13 per cent, with interest rates falling by about 600 or more base points compared to current levels.

He commended the role of the Central Bank of Egypt in managing economic conditions, shifting inflation from excessive to steady decline, despite the significant challenges faced by monetary policy over the past three years.

During a meeting on East Bloomberg from Davos, Aziz Al-Arab added that the bulk of the hot money recently entered the Egyptian market had not been included in the cash reserve, indicating that it was likely to be directed towards other financial assets.

With regard to the debt file, Hesham Aziz Al-Arab stressed that the debt situation in Egypt was not a crisis, explaining that the debt volume was on a downward path.

The Minister of Planning ' s vision was aimed at reducing the debt-to-GDP ratio to 70% by 2030.

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