International Lenders See Economic Recovery in EgyptSeptember 2007 shows cars stuck in a traffic jam in Cairo a few days before the start of the school year and beginning of the holy month of Ramadan. A permanent cacophony in Cairo
Political stability has opened the way for economic recovery in Egypt, according to Tim Fox, chief economist and head of research at Emirates NBD.
However, Fox said that the country needs to upgrade its infrastructure and access the under-banked and under-housed segments.
Discussing the challenges facing Egypt, Fox said the depreciation of the Egyptian pound and the Russian economic turmoil, which consequently affected the number of Russian tourists coming into Egypt, are challenging the economy. Details