The term of the incumbent Central Bank of Egypt governor, Hassan Abdalla, is due to expire next week and, while it is not yet clear if Mr. Abdalla will be kept on or a successor appointed, it will be key that the CBE and other Egyptian authorities continue to present a cohesive reform-oriented front. Whoever is CBE governor after next week will have some say over Egypt’s monetary easing cycle, which is likely to continue following the slowdown in inflation in July. Finally, Dubai’s booming economy has grabbed the headlines. A key risk to the outlook is that the real estate sector enters a downturn, although there are reasons to think that the macro fallout would be limited, at least compared to previous property busts in the emirate.
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