ECES released the 38th Business Barometer report offering comprehensive information about the state of economic activities in Egypt.
This year's report offers the result of a survey conducted on a stratified sample of 474 public and private firms. The sample covers a wide range of fields including manufacturing (50%) financial intermediation (13%) construction (12%) transportation (11%) tourism (8%) and communications (6%) across a range of small medium and large enterprises (42,12 and 46 percent respectively).

The firms were surveyed about their assessment for the overall economic growth and the outcome of their operations including production, sales, capacity, utilization, inventories, prices, wages, employment and investments in the first quarter (July-Sep) of fiscal year 2015/2016. The report also tackles their expectation for the second quarter of the same fiscal year (October-December 2015/2016).

The overall results show that regarding past performance of businesses there was only a slight decline reported compared to previous quarters. Private firms were especially affected by the decline while medium businesses improved and public sector reported no change.

As for their expectations for the future, the majority reported a less optimistic outlook for the next quarter compared to the past due to lack of reforms of factors that restrain business like inflation pressure, corruption, high tax rates and bureaucracy.

They called on the government to implement changes in policy of exchange rates, more trade stimulation and credit facilities and to reduce bureaucracy for better economic performance.

Discover more at: