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14 Egyptian Companies Gone Global

14 Egyptian Companies Gone Global

itemprop="name headline">14 Egyptian Companies Gone Global (adsbygoogle = window.adsbygoogle || []).push({}); Egypt’s social, economical, and political situation posed obstacles for local businesses to grow and expand, but there was still an opportunity for them to showcase their creative solutions to solve Egypt’s most pressing developmental challenges. Even before 2011, Egypt’s economy had taken a downturn after the 2008 Global Financial Crisis, notably characterized by a hike in food prices. It took a harder hit after the 2011 revolution, when tourism, an important sector of Egyptian economy, plummeted. As a consequence, Egypt’s foreign exchange reserves fell from $36 billion in December 2010 to only $16.3 billion in January 2012. However, all hope was not gone for local businesses. According to the Central Bank, Egypt’s net foreign reserves reached $44.14 billion at the end of May; it also secured a $12 billion, three-year International Monetary Fund loan in 2016 as part of efforts to avert the collapse of the economy. Since then, import-dependent Egypt has been trying to woo foreign investors and revive its ailing economy.

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تنوية هام: الموقع غير مسئول عن صحة ومصداقية الخبر يتم نشره نقلاً عن مصادر صحفية أخرى، ومن ثم لا يتحمل أي مسئولية قانونية أو أدبية وإنما يتحملها المصدر الرئيسى للخبر. والموقع يقوم فقط بنقل ما يتم تداولة فى الأوساط الإعلامية المصرية والعالمية لتقديم خدمة إخبارية متكاملة.

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