Egypt’s Economic performance receives bleak forecast
The Egyptian Center for Economic Studies has recently assessed the economic performance of 90 percent of the companies operating in the local industrial, building and construction sectors. According to Al-Sharq Al-Awsat, the results of this evaluation showed that the performance of the Egyptian economy had declined substantially during the first half of 2000.
The study also anticipates an additional decline in the output of the following industries: minerals, food, printing, beverages and tobacco throughout the remainder of this year.
Official sources have revealed that 290 new companies were opened in Egypt during the first five months of 2000, compared to 302 companies in the last five months of 1999. Furthermore, these sources anticipate that 25 percent of the companies established during the first six months of 2000 will achieve low growth levels in the second half of this year. — (Albawaba-MEBG)