Egypt has seen rapid growth and a relatively stable currency – unfortunately stable against the US dollar. Is it worth investing in Egypt? And if so, how are the tools offered?
Egypt, the official name of the Arab Republic of Egypt, gained independence in 1922. The state, which declares the country a republic with a democratic system, accepted it in 1971. Since 1981, Mohamed Hosny Mubarak has been president and also the main body of executive power. Since 2004, he has embarked on fundamental economic reforms, their introduction, similarly to the basin, will take several years to go and the results will be reflected in the distant future.
It is important to carry out all the keys to the two reforms, there will be no extensive crisis. In addition, Egypt is now largely guided by the full implementation of 2007 2010 under the so-called ENP (European Neighborhood Policy). Among other things, its observance for Egypt means a considerable amount of funds from European Union funds.
Egypt, as in the past according to Turkey, also has a suitable geographical location for international trade. Many international trade and political negotiations will take place here. This is compounded by such a good knowledge of English in towns and hotels, as well as the ability to pay in US dollars and euros. You can only have a problem with renting a car, but that’s a bit different chapter.
Egypt’s economy has not shown much weakness in recent years. GDP grew by 6.9% in the last fiscal year (until June 2007), which is a better result than in the previous two years (6.1% in June 2006 and 5% in June 2005) and for the whole of 2007 , 5%. Unemployment was 9.5% in December 2006. This corresponds to a long-term standard. The problem of inflation, which reached the level of 12.4% in December 2006. The inflation target for 2007 of 8.5% is likely to be slightly exceeded. (Data source: National Bank of Egypt)
According to inflation, the effect of inflation is exacerbated by the fact that the greatest impact is usually on the number of the poorest. According to official figures, the CIA lives 20% of the country’s population below the poverty line, unofficially speaking 40%. These data correspond to the fact that about 30% of the population over the age of fifteen cannot grow up.
Unemployment cannot be underestimated in the long run. With the current population of 1.72%, Kadoron has to find new jobs for more than 600,000 people to keep unemployment at the same level. The age structure of the population (see the graph of predicted population structure in 2025), on the other hand, does not indicate any problems with the pension system in the foreseeable future.
Large revenues to the state cash register pin the operation of the Suez Canal and the pipeline transport Sumed, mainly for the transport of oil peerpan from tankers, which due to a deep dive can not pass through the canal.
He gave a significant half of GDP to your tourism. Despite several terrorist flows in recent years, the number of foreign tourists is increasing from year to year. Tourism, together with the Suez Canal and pension transfers from Egyptians working abroad, is the main source of foreign exchange. These are according to the stability of the Egyptian currency, hence the whole economy.
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