沙特财政部预计，2025年实际GDP增速将加速至4.4%，其中非石油部门增速将达5%。 在"石油王国"的刻板印象之外，沙特非石油部门在实际国内生产总值（GDP）中的占比已从十年前的 45.4%，大幅增长至如今的55.6%。 这十多个百分点的飞跃背后，是2016年启动的"沙特2030愿景"所引领的经济多元化进程。这为沙特带来 了非石油经济增长动力，沙特财政部预计，2025年实际GDP增速将加速至4.4%，其中非石油部门的增 长将达5%。同时，沙特正从过去依赖公共财政支出，转向了撬动和引导私人资本，释放经济潜力。 毕马威的分析报告认为，沙特非石油部门的增长受到多领域的支撑。一方面，沙特政府推行提高公共采 购中本土化比例的政策，直接刺激了国内非石油制造业的发展。另一方面，批发与零售贸易成为非石油 增长的重要贡献者，这与沙特私人消费的强劲趋势紧密相连。沙特政府通过设定汽油价格上限、提 供"公民账户"等直接财政支持，稳定了居民实际收入，助推了消费。毕马威预期，这一趋势将在2026年 延续。 十年之间，沙特阿拉伯的经济版图经历了一场重塑。 "从沙特国家发展基金（NDF）的视角来看，成果是显而易见的。许多愿景目标已经实现， ...

Core Viewpoint - The Central Bank of Egypt has significantly cut interest rates by 200 basis points, marking the third rate cut of the year, driven by declining inflation and improving employment conditions [1][3]. Monetary Policy - The overnight deposit rate has been reduced from 24.00% to 22.00%, and the overnight lending rate from 25.00% to 23.00% [3]. - The Central Bank aims to anchor inflation expectations and maintain a downward trajectory of inflation through this rate cut [3]. - The unemployment rate decreased from 6.3% in Q1 2025 to 6.1% in Q2 2025, indicating a positive trend in the job market [3]. Inflation Outlook - The Central Bank forecasts that the average inflation rate for 2025 will be between 14% and 15%, with a target of 7% by Q4 2026 and 5% by Q4 2028 [3][5]. - Despite the positive outlook, inflation remains above the target level, indicating ongoing challenges [5]. Economic Growth - Egypt's economy is showing signs of recovery, with a real GDP growth rate of 5.4% in Q2 2025, compared to 2.4% in the previous fiscal year [4]. - The non-oil manufacturing sector grew by 16.03%, contributing 1.9 percentage points to GDP growth [7]. - The tourism sector, particularly restaurants and hotels, experienced a growth of 23% [7]. - Exports of goods and services surged by 54.4% in Q2, significantly outpacing the 18.7% increase in imports, contributing approximately 2.7 percentage points to GDP growth [7]. Sectoral Performance - The communication and information technology sector grew by 14.7% [7]. - However, the Suez Canal's transport volume has decreased due to geopolitical tensions, leading to a 23.1% decline in related revenues [7]. - The oil and gas sector is facing challenges but is expected to recover with new development projects [7].