April 2005
Egypt hopes reform will boost investment
Can Egypt's reformist government meet its promises to reduce the state's economic role while attracting more FDI?
EGYPT'S GROWTH PROSPECTS are upbeat. Prime minister Ahmed Nazif said in February that the economy would grow by 6% in the next financial year. In September 2004, 5.5% growth for the current financial year was being forecast, up from 4.1% in 2003/04. Nazif attributes the brighter outlook to "the rise in levels of investment and new offers the government has received from international companies to establish new projects in the Egyptian market or to expand existing projects".
After a high of $1.2 billion in 2000, FDI dropped to $510 million in 2001, and has remained startlingly low since. Recent years have also witnessed poor privatization receipts: 166 companies were sold off during the 1990s, raising E£154 billion ($26.6 billion), but privatization ground to a virtual halt after the 2001 downturn.
...
You must be a subscriber to access this archived content.
If your subscription includes access to the archive, please log in now to view.
To gain access to this content visit the subscription page or call our hotline on +44 (0)207 779 8999.
Subscribe online now and save up to 30% on your subscription.
If you are a trialist or subscriber, please enter your username and password at the top right-hand side of euromoney.com
Subscribers to Euromoney benefit from:
- 12 months access in print and online - on euromoney.com, read the latest issue early online, search for specific developments by region or sector, interrogate the results of Euromoney's benchmark polls, and view the archive dating back to 1996
- More than 30 specialist research guides free
- The results of Euromoney’s polls and surveys
- Tailored RSS news feeds direct to your desktop
- News delivered directly to your mobile device or PC
- Personalised email newsfeed of 'Top stories' and 'Breaking news'
Click here to subscribe