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FINANCIAL NEWS
Egypt needs two decades to recover GDP
27 Jun 2016
(MENAFN) Egypt’s economy is currently facing a chain of challenges that require a different solution to lead it to growth, former head of the Egyptian Businessmen’s Association said.
“Egypt’s economy has begun to see improvements, but it has not fully recovered yet. The largest sectors in Egypt’s economy continue to suffer,” he added.
However, Egyptian exports, which continue to record low rates, have increased by 9 percent over last April, based on the Ministry of Trade and Industry latest reports.
Additionally, tourism continues to suffer mainly on the back of a series of unfortunate events, not to mention that revenues from the Suez Canal have continuously regressed.
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CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
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