Addressing the Advisory Group Conference of Donor Countries, Egyptian Prime Minister, Atef Ubeid, presented a bleak picture regarding the performance of the national economy during the next fiscal year, reported Al-Hayat . The Prime Minister predicts that 370,000 people will lose their jobs in 2002 and that foreign currency reserves will decline by $2.3 billion during the same period. Obeid related the deterioration to the September 11 attacks and the prevailing global recession. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
