Pace Of Egypt’s Economic Growth Expected To Rise In Second Half -ECES Survey

A number of Egyptian companies expected the economy to achieve growth in the second half of the current year, especially in the tourism and financial sector due to the investments, economic reforms, and stimulus packages which reflects positively on the economy, AlMasry AlYoum reported on Wednesday.

A report by the Egyptian Center for Economic Studies (ECES) said that the frequent power outage, political instability, and difficulty of access to energy were the main hurdles faced by companies in the first half.

It added that most of the firms expected stability and increased trade, insurance, and taxes. In addition, most of the companies expected decline in production subsidy.

The survey, which included 474 companies operating in the Egyptian market, expected consumption to remain the main driver of growth.

Increased wages helped in decreasing the effects of price hikes, which maintained a modest increase in domestic sales, the report said.

Source: AlMasry AlYoum & Arab Finance