In the past year, the cabinet econo

In the past year, the cabinet economic team has simplified and reduced tariffs and taxes, improved the transparency of the national budget, revived stalled privatizations of public enterprises and implemented economic legislation designed to foster private sector-driven economic growth and improve Egypt's competitiveness. Despite these achievements, the economy is still hampered by government intervention, substantial subsidies for food, housing, and energy, and bloated public sector payrolls. Moreover, the public sector still controls most heavy industry. Tourism has become the single biggest foreign exchange earner. However, there is some concern that current unrest will impact tourism. The interim government announced an economic stimulus package amounting to $3.22 billion in August 2013. In October 2013, it was increased to $4.27 billion. The international economic downturn slowed Egypt's GDP growth to 4.5% in 2009, predominately affecting export-oriented sectors, including manufacturing and tourism. Unemployment is rising. In 2009 the government implemented a $2.7 billion stimulus package favoring infrastructure projects and export subsidies, and is considering up to $3.3 billion in additional stimulus spending in 2010 to mitigate the slowdown in economic growth. In September 2009 - Egypt was ranked among the world's 10 most active reformers for the fourth time. Egypt made business start-up less costly, expedited the construction permit process, expanded the information available from the private credit bureau, and created commercial courts to speed up contract dispute settlements.

In the past year, the cabinet economic team has simplified and reduced tariffs and taxes, improved the transparency of the national budget, revived stalled privatizations of public enterprises and implemented economic legislation designed to foster private sector-driven economic growth and improve Egypt's competitiveness. Despite these achievements, the economy is still hampered by government intervention, substantial subsidies for food, housing, and energy, and bloated public sector payrolls. Moreover, the public sector still controls most heavy industry. Tourism has become the single biggest foreign exchange earner. However, there is some concern that current unrest will impact tourism. The interim government announced an economic stimulus package amounting to $ 3.22 billion in August 2013. In October 2013, it was increased to $ 4.27 billion. The international economic downturn slowed Egypt's GDP growth to 4.5% in 2009, predominately affecting export-oriented sectors, including manufacturing and tourism. Unemployment is rising. In 2009 the government implemented a $ 2.7 billion stimulus package favoring infrastructure projects and export subsidies, and is considering up to $ 3.3 billion in additional stimulus spending in 2010 to mitigate the slowdown in economic growth. In September 2009 - Egypt was ranked among the world's 10 most active reformers for the fourth time. Egypt made business start-up less costly, expedited the construction permit process, expanded the information available from the private credit bureau, and created commercial courts to speed up contract dispute settlements.

In the, past year the cabinet economic team has simplified and reduced tariffs, and taxes improved the transparency of. The national budget revived stalled, privatizations of public enterprises and implemented economic legislation designed. To foster private sector - driven economic growth and improve Egypt 's competitiveness Despite, these achievements.The economy is still hampered by, government intervention substantial subsidies for food housing and energy and,,,, bloated Public sector payrolls. Moreover the public, sector still controls most heavy industry. Tourism has become the single biggest. Foreign exchange earner. However there is, some concern that current unrest will impact tourism.The interim government announced an economic stimulus package amounting to $3.22 billion in August 2013. In, October 2013 it. Was increased to $4.27 billion. The international economic downturn slowed Egypt 's GDP growth to 4.5%, in 2009 predominately. Affecting export-oriented sectors including manufacturing, and tourism. Unemployment is rising. In 2009 the government implemented. A $2.7 billion stimulus package favoring infrastructure projects and, export subsidies and is considering up to $3.3 billion. In additional stimulus spending in 2010 to mitigate the slowdown in economic growth. In September 2009 - Egypt was ranked. Among the world 's 10 most active reformers for the fourth time. Egypt made business start-up less costly expedited the,, Construction, permit processExpanded the information available from the private credit bureau and created, commercial courts to speed up contract dispute. Settlements.