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Financial decision-maker sentiment: Egypt

An ongoing look at how the attitudes of financial decision makers in Egypt are evolving during the COVID-19 pandemic.

Most financial decisions makers in Egypt view the current economy as neutral or weak. More than half of consumers view their current financial situations as somewhat weak or weak and many expect it to remain the same in the next 3 months. The majority are concerned or somewhat concerned about job security and over half have 4 months or fewer of savings to live off. Sentiment towards banks during the crisis is net neutral and consumers would like them to improve their websites to allow for more seamless online transactions. Many consumers claim they will increase their usage of digital banking services (e.g. paying bills online, mobile banking, or using a mobile payment app) even after the COVID-19 crisis ends.

About the author(s)

John Euart is an associate in McKinsey’s New York office, Francois Jurd de Girancourt is partner in the Casablanca office, and Brittany Lewis is a specialist in the New Jersey office.

The authors wish to thank Harshit Gupta for his contributions to this article.

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