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CNBC: Egypt can handle the emerging markets downturn 'up to a limit'

Egypt's finance minister believes his country's economy can weather what has thrown many others into crisis.
06.09.18 | Interesting article at CNBC

Amid a brewing storm for emerging markets, Egypt's finance minister believes his country's economy can weather what has thrown many others into crisis — as long as the underlying causes don't get any worse.

Speaking to CNBC's Hadley Gamble in Cairo, the recently-appointed Mohamed Maait discussed what the current market turmoil meant for the Middle Eastern country of 90 million.

"It is worrying; however, we are able until now to absorb these negative effects... Egypt's economy has sources to address this. However, I have to be very honest — up to a limit," Maait said. "So hopefully what is happening will be corrected and will move into a stable position, because yes we are absorbing all these shocks — oil prices, emerging market problems, increasing interest rates — but if they continue like that, it will be a problem for us."