BMI View: This quarter, we have slightly revised down our forecast for Egypt, reflecting the increasing political instability in the country. That said, a continuous and reliable supply of electricity is paramount for Egypt’s socio-economic development, and a series of politically-charged electricity outages over the second half of 2012 and first half of 2013 has illustrated that power is a hot political issue. Yet, the challenge of ramping up supply is immense; not only does it require a re-prioritisation of natural gas feedstock away from exports and towards domestic consumption, but weak economic activity and high political uncertainty are set …
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