Egyptian public manufacturing sector - (Photo Credit: Reuters Arabia)
Cairo – Mubasher: The idle capacity of the Egyptian public manufacturing sector rose 17.6% on a yearly basis in FY14/15, said the Central Agency for Public Mobilization and Statistics (CAPMAS).
The value of the sector’s idle capacity amounted to EGP 7.9 billion in FY14/15, compared with EGP 6.7 billion a year earlier.
The value of the idle capacity widened on the lack of raw materials and the marketing difficulties.
Earlier, the Central Bank of Egypt issued a decree to control the random exporting deals, effective of the 1st of January 2016.
Egypt’s foreign reserves declined from around $36 billion before January 2011 to $17.54 billion by the end of July 2016.
Source:
Mubasher
