Morgan Stanley see remittances, FDI cushioning Egypt from energy shock

Morgan Stanley has turned more constructive on our external position research note (pdf)

Remittances are providing a powerful buffer: USD 36.5 bn recent data from the CBE

In its base case, assuming oil averages USD 75 per barrel

The bank forecasts net FDI of USD 13-15 bn in FY 2026/27 across its scenarios

Morgan Stanley also lowered its December 2026 inflation forecast to 11.8% from 13.5%

The EGP could remain relatively steady:

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