Recent world developments have had a negative impact on the Egyptian economy Al-Hayat recently reported. The September 11 terrorist attacks and America’s campaign against Afghanistan have forced Egypt’s Ministry of Transportation to delay a number of large ventures valued at $10 billion. The planned transportation projects were set to develop airports, seaports and railways.
In addition, the government is seriously considering postponing the privatisation of shares in electrical and telecommunication companies through the Egyptian bourse. Government officials believe that it would be very difficult to market shares of state-owned companies at this time due to the present liquidity crisis and lack of purchase orders on the Egyptian bourse by local as well as foreign investors. — (Mena Report)
© 2001 Mena Report (www.menareport.com)
