Arab Today, arab today political unrest pushes egyptian economy into danger
Last Updated : GMT 22:17:05
Arab Today, arab today
Arab Today, arab today

Economist predicts tough times ahead

Political unrest pushes Egyptian economy into danger

Arab Today, arab today

Arab Today, arab today Political unrest pushes Egyptian economy into danger

Egypt's talks with IMF over a $4.8m loan are likely to take a hit, say experts
Cairo - Akram Ali

Egypt's talks with IMF over a $4.8m loan are likely to take a hit, say experts Cairo's Centre for Economic Studies has said that the Egyptian economy is in a "critical state" as a result of ongoing violence. In a report, written by Abdel-Moneim Sayed ,the Centre said that foreign currency reserves in Egypt's Central Bank [estimated at $12.5 billion] are set to witness a decrease due to the lack of foreign investments and tourist activity.
Furthermore, the budget deficit is expected to hit a record of 200 billion EGP and a drop in the credit assessment of Egypt, would force the government to pay higher rates for the loans it needs to cover the deficit.
The political unrest has also resulted in continuously dropping exchange rate of the Egyptian pound against the US dollar, which is reflected by a significant rise in prices of the imported goods.
The current political situation is also expected to affect the Egyptian government's negotiations with International Monetary Fund [IMF] over a $4.8bn loan, which the government needs to restore international confidence in Egypt's economy.
"The Egyptian economy is going through one of its worst eras," said Abdel-Moneim Sayed, author of the report. "Foreign or national businessmen are no longer interested in investing their money in Egypt amid the current unrest and lack of security," he added.
Sayed predicted that the Egyptian budget deficit could reach 228 billion EGP if the political strife in the country is resolved.
"Egypt has the potential to achieve mass economic growth, but the political parties must reach an agreement to bring calmness back to the country, and subsequently restore the world's confidence in the Egyptian economy," he concluded.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today political unrest pushes egyptian economy into danger Arab Today, arab today political unrest pushes egyptian economy into danger

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today political unrest pushes egyptian economy into danger Arab Today, arab today political unrest pushes egyptian economy into danger

 



Arab Today, arab today
Arab Today, arab today Arab tradition glitters in Colombia

GMT 12:59 2017 Thursday ,19 October

Arab tradition glitters in Colombia
Arab Today, arab today Second US judge orders freeze

GMT 08:04 2017 Thursday ,19 October

Second US judge orders freeze
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Silent Republicans have their reasons

GMT 16:55 2017 Thursday ,19 October

Silent Republicans have their reasons
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Sidem reveals plan to improve education

GMT 15:52 2017 Friday ,06 October

Sidem reveals plan to improve education
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes says recalls 400,000 UK cars

GMT 06:56 2017 Tuesday ,17 October

Mercedes says recalls 400,000 UK cars
Arab Today, arab today Britain's Vauxhall to cut 400 jobs

GMT 10:53 2017 Sunday ,15 October

Britain's Vauxhall to cut 400 jobs
Arab Today, arab today Hussein Fahmy happy for honoring in festival

GMT 07:47 2017 Tuesday ,17 October

Hussein Fahmy happy for honoring in festival
Arab Today, arab today Climate-disrupting volcanoes helped topple

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 09:31 2017 Monday ,16 October

Dalal Abdel Aziz happy for “Seventh Neighbor”

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 18:29 2017 Sunday ,03 September

Designer produced new set of ornaments

GMT 05:11 2017 Tuesday ,17 October

Three killed, 360,000 without power

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 23:42 2017 Monday ,16 October

Better Marriages Make

GMT 06:52 2017 Monday ,16 October

Airbus CEO says won't cling to job

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 19:29 2017 Tuesday ,29 August

Yomna: decoration leaved positive effects
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday