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Old 08-10-2008, 09:24 AM
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HORIZON HORIZON is offline
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I do not know about the bank laws and protection here, however, I do not see banks getting in difficulty at all.

There can be a problem beacuse of Egypt's dependency on currencies, and while they are unstable as they are, the economy can fluctuate slightly.

However, Egypt at all does not depend on imports, as the economy is supplying itself with practically everything it needs.

I would see a decrease in interest from investors in Europe and mainly the time gap to decide on wether to buy has increased a lot The tourist flow should diminish slightly. However, the Red Sea area is changing its focus to Russian market, which is turning away from stocks to property markets and the interest is constantly growing. This happens also because the Russian community here is quite big.

Of course financial indicators will be affected by the global recession, however, I see minor impact to Middle East region (however, it will also depend on government economic policies during the period).
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