This white paper focuses on understanding the root causes of Egypt’s dependence on foreign debt and its low currency value, as well as providing recommendations to address those issues. The points raised in this white paper are based on the discussions of the Business Forward Annual Event last December. Download it here.
Export promotion is a critical aspect of Egypt’s economic strategy as the country looks to diversify its revenue streams and boost growth in this time of economic hardship. With a large budget deficit, the government and private sector have placed a renewed emphasis on expanding the country’s export sector. Besides foreign currency generation, one of
As the Egyptian economy has been affected by local and international developments—the recent devaluation of the Egyptian pound being perhaps the most significant consequence—the private sector struggles to expand as desired. “We saw a decline in the purchasing manager’s index (PMI), which is an indicator that the private sector is declining,” said Maged Ezzeldin, senior
With the Egyptian pound losing more than 55 percent of its value in the past eight months, economists and industrial experts debate the hidden opportunities that can come out of this seemingly economic predicament and how businesses, especially manufacturers and exporters, can benefit from such devaluation. At the Business Forward annual event, held on December
Egypt is one of many countries in the world that are trying to pick up the pieces of the many consequent shocks that have recently hit the world. But not many countries are also carrying the hefty burden of a wild devaluation, outrageous inflation rates, and massive debts waiting to be repaid – only at
The private sector is the beating heart of any economy, often making or breaking development and growth efforts. That’s been the case in most countries and also the case in Egypt, where the private sector has a set of unique characteristics but also unique challenges. The International Finance Corporation (IFC) 2020 report, titled Creating Markets
On the sidelines of the AUC Business Forum, which was hosted by the AUC School of Business between February 9 and 11, Business Forwards speaks exclusively to Khaled Mikati, chairman of the Egyptians Exporters Association, on the challenges and pitfall of maximizing intercontinental trade between Egypt and the rest of the African continent. ????? ??
When Sierra Leone and the Sahrawi Republic ratified the African Continental Free Trade Agreement (AfCFTA) in April, the world’s biggest free trade bloc was officially brought to life and launched into its implementation phase. The two countries were the 21st and 22nd to ratify the agreement in the African Union (AU). The landmark agreement, which
In light of promoting the concept —- for sustainable development, the AU discussed details about an African passport during its 32nd summit in February. Legal advisor and member of the Council of Ambassadors for the AU Namira Negm had mentioned in a televised interview with media outlet Extra News that state members discussed a unified
Amid speculations of a trade war that could potentially break out between China and the United States (US) and may surpass the mere imposition of tariffs, uncertainty lingers regarding the impact of such a war on global trade and the global economy – and other countries. The question remains: What would a trade war between
