economics

             A Detailed analysis of Egypt's economic progress over the last decade whilst analyzing the effect of privatization on the Egyptian economy
             Egypt is the third-largest economy in the Middle East and North Africa region (after Saudi Arabia and Israel), as well as one of the strongest, with significant potential for future economic growth and diversification. With a real commitment to economic reform, which encompasses a large privatization program and the encouragement of private investment and growth in the private sector, the attractions for both foreign direct investors and portfolio investors continue to increase. In my analysis I will first analyze the Egyptian economy in order to present a solid overview and background on which I will then base my own analysis on the effect of privatization on the Egyptian economy.
             The Egyptian economy is the third largest in the MENA region (after Saudi Arabia and Israel) and is set to grow sharply as the effects of economic reform continue to kick in. Economic growth in the year to the end of June 1999 reached 5.7%, and should improve in the current year to reach 6%.
             While budget deficit is set to fall to 1.1% of GDP, the fiscal situation remains very good. The budget deficit is expected to have been around 1.3% of GDP for the year to the end of June 1999. We forecast a slight fall to 1.1% for the current year. This is one of the key legacies of the IMF structural adjustment program that was introduced in the late 1980s and underpins government efforts to control spending.
             Inflation is expected to remain below 3.5% The fall in inflation is one of the key economic success stories, with inflation well under control, currently running at a year-on-year rate of 2.9%. Although there may be slight price pressures going forward, we expect inflation to remain below 3.5% over the next few years.
             The overall macro-economic environment remains strong, although several significant structur...

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