By Chang-Po Yang
This file summarizes Egypt's contemporary fiscal growth, highlights key possibilities and demanding situations at present dealing with its executive and other people, and descriptions a technique for securing its destiny prosperity close to a brand new millennium. at the exterior entrance, it emphasizes reforming the alternate regime, boosting exports, and moving into a partnership contract with the eu Union. at the household entrance, it outlines a number of structural reforms to advertise better discount rates and effective funding and regulations to make sure that macroeconomic balance is maintained.
Read Online or Download Egypt in the Global Economy: Strategic Choices for Savings, Investments, and Long-Term Growth (Middle East and North Africa Economic Series) PDF
Similar egypt books
Egyptian mummies have consistently aroused renowned and clinical curiosity; although, newest reviews, even supposing considerably elevated in quantity and diversity, were released in expert journals. Now, this certain booklet, written through a original group of scientists dependent on the collage of Manchester (England), brings this intriguing, cross-disciplinary region of analysis to a much wider readership.
Kassem offers a concise and available creation to Egypt, together with chapters on family politics, overseas coverage, financial system and kingdom formation. will probably be of curiosity to a person learning Egypt from a social technological know-how standpoint.
Patrick Hunt brings his top-ten record of old archaeological discoveries to existence during this concise and appealing publication. The Rosetta Stone, Troy, Nineveh's Assyrian Library, King Tut's Tomb, Machu Picchu, Pompeii, the useless Sea Scrolls, Thera, Olduvai Gorge, and the Tomb of 10,000 Warriors - Hunt unearths the interesting tales of those outstanding discoveries and explains the ways that they upload to our wisdom of human historical past and completely altered our worldview.
Additional resources for Egypt in the Global Economy: Strategic Choices for Savings, Investments, and Long-Term Growth (Middle East and North Africa Economic Series)
Reducing the debt to GDP ratio depends on the speed of growth and the level of real interest rates. Interest rates in excess of the rate of GDP growth could result in debt financing via monetization, with capital flight as its consequence. 3 Thus, primary surplus should be maintained at a minimum of 3 percent of GDP or higher to allow a reduction of debt to GDP ratio. The soundness of the banking system is also a source of concern. The interest rate differentials would make it attractive for banks to borrow in US dollars and lend in local currency, but this makes them vulnerable to a currency devaluation.
KEMAL DERVIS Vice President, Middle East and North Africa Region The World Bank Page viii Acknowledgments The Bank team wishes to acknowledge the guidance and support it has received from senior Government officials in carrying out this study. E. Dr. E. Dr. E. Dr. E. Dr. Youssef Boutros-Ghali (Minister of Economy); Mr. Ismail Hassan(Governor, Central Bank of Egypt); Dr. Ibrahim Fawzi(Chairman, Investment Authority); Mr. Abdel Hamid Ibrahim (Chairman, Capital Market Authority); and General Ehab Elwy (President, CAPMAS).
A rapid and large-scale privatization program would provide sales proceeds toward reducing domestic debt. This would be complemented by rapid growth of private investment. Second, fiscal stringency would give rise to increased public sector saving and therefore rapid increases in domestic saving. Private saving would be boosted subsequently by the other structural policy reformsrapid trade liberalization and privatizationand by rapid per capita income growth. However, the increased domestic saving would not be large enough to finance all the investment requirements; a significant gap would still have to be filled with portfolio and foreign direct investments and with foreign borrowing.