Although estimates vary, sources such as the OECD and Egypt’s General Authority for Investment and Free Zones (GAFI), the Ministry of Investment’s promotion agency, assert that small and medium-sized enterprises (SMEs) account for between 80% and 90% of total businesses, and between 75% and 80% of employment. However, the development of SMEs has been hindered by...
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Articles & Analysis | Aiding the development of the nation’s SMEs from The Report: Egypt 2014
Interviews & Viewpoints | OBG talks to Ahmed Heikal, Chairman and Founder, Qalaa Holdings from The Report: Egypt 2014
Articles & Analysis | Reforms to lower structural fiscal deficit from The Report: Egypt 2014
Prior to the 2011 revolution, Egypt was making steady progress in reducing persistent fiscal deficits, thanks to sustained efforts by reformist governments. One of the most enduring legacies of that period is a much-improved tax system, which replaced a bloated and inefficient process with a more streamlined and wider-based structure. Simplified tax procedures and lower...
Articles & Analysis | Halting the decline in foreign currency reserves from The Report: Egypt 2014
Two years of political upheaval have increased tensions over the country’s financial health and left the economy in an uncertain situation. After tourists and many foreign investors departed following the 2011 revolution, foreign currency reserves declined. Egypt’s average monthly current account deficit stands at between $400m and $500m. With over $20bn spent since the...
While the headlines on Ghana’s 2015 budget focus on the short-term impacts of fiscal tightening, the proposed changes should have a positive bearing on the overall economy over time.
Ces dernières années, l’Algérie a enregistré des performances économiques relativement solides. Le FMI a toutefois fait remarquer que la chute des prix du pétrole pourrait peser sur les performances à court terme, rappelant le rôle prépondérant que le secteur des hydrocarbures continue de jouer sur la croissance.