The private sector in Egypt continues to shrink due to the pressures of the Gaza war and inflation. The Standard & Poor's Global Purchasing Managers' Index in Egypt fell to 48.1 points from 48.5 last December, remaining below the 50 level that separates growth from contraction.
Egypt is witnessing a scarcity of dollars, which has affected the exchange rate of the pound. Fitch Ratings said that the broader repercussions of the conflict in the Gaza Strip increase the risks facing neighboring countries, especially Egypt.