US bombings to bear effect on Egyptian economy
Following the recent terror attacks in the United States, the Cairo-based Al-Akhbar daily asked Egyptian economists to evaluate the potential consequences these acts may involve for Egypt.
According to Abdullah Tabil, head of the People's Assembly's Economic Committee, the event is inclined to affect the value of the dollar against other currencies. However, he stated he believes that the "United States is capable of overcoming the crisis before long".
Hamdi Abd Al-Azim, head of the Economic Research Department at Al-Sadat Academy, projected oil prices to rise and dollar prices to fall compared to other currencies in Egypt. Additionally, he foresees other "negative" economic ramifications, including a "decrease in US investments" and aid to Egypt. — (Mena Report)
© 2001 Mena Report (www.menareport.com)
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