Analysts bullish on Egypt’s $8bn EU support package

The European Union last week unveiled an $8bn package of financial assistance for Egypt, in a move that economists expect to bolster the country’s beleaguered economy and attract greater inflows of foreign investment.

Egypt’s economy has been on a downward spiral since the outbreak of the coronavirus pandemic, when revenues from tourism, which contributed over $30bn to the economy in 2019, practically disappeared and other major industries…