TAG: Industry
While Egypt continues to face considerable economic challenges, the outlook is improving on the back of strong private sector activity and government reforms. New revenue enhancements have been put into place, while current spending is being curtailed and a long-awaited legal framework aimed at attracting new investment will soon be rolled out. Financial services, telecoms and industrial firms have benefitted from steady domestic demand, although there are plenty of obstacles to faster growth, including a troubled currency – the flotation of which, while seen as necessary, threatens to drive up inflation.
Although economic openness left Mexico more exposed to the global financial crisis than some of its Latin American peers, its economic profile has since allowed it to bounce back as global trade and investment flows recover, and past structural reforms begin to bear fruit.
OBG’s African economies have rolled out new capital market instruments and more transparent Customs procedures; they have paved the way for bigger and better-capitalised banks and the emergence of new innovative technologies; and they have made it easier for citizens to access everything from microcredit to health insurance to a well-paying job.