Egypt’s service sector generated $861 million in the third quarter of the nation’s fiscal year, which ended March 31, a 15 percent increase compared to the second quarter’s $746 million results, according to official statistics. Despite the gains, the level was still 45 percent below 2001’s third quarter results of one $1.6 billion.
This year’s losses were attributed to a 21 percent drop in service receipts from $2.3 billion in the third quarter of the fiscal year compared to $2.9 billion from the same period last year, directly related to a drop in tourism revenues and a plunge in investment income. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
