SMEs mainstay for economic growth

Central Bank of Egypt (CBE) Governor Tarek Amer said the small and medium sized enterprises represent the mainstay of economic growth in both developed and developing countries.

 

He made the remarks in a speech delivered on his behalf by CBE Deputy Governor Gamal Negm at a conference organized by the Arab Banks Union.

 

The conference - under the theme of the future of small and medium enterprises - is held in Luxor and will last for three days.

 

He said small businesses in Egypt play a key role in realizing economic and social development, adding that they help to cater for the needs of the local market.