A number of companies expected that the coming period will witness optimism regarding the current trends of monetary policy as a result of the central bank’s decisions to reduce the interest rate on deposits and borrowing, as well as the continued improvement of the pound exchange rate against the US dollar, as well as further improvement in infrastructure as a result of the government’s adoption of national projects in Roads, bridges and water stations, as well as improving financial and credit services.
The companies, in a recent poll conducted by the Egyptian Center for Economic Studies, called for the need to develop an effective and comprehensive plan for reforming the tax system, and the importance of the state making actual and real efforts towards institutional and administrative reform to eliminate bureaucracy and facilitate government procedures and alleviate many obstacles facing the business community, including the complexity of the customs system , Difficulty in issuing operating licenses, difficulty in litigation procedures, or access to land, which is reflected in increased investment.
He called on businessmen to find unconventional solutions to the lack of skilled labor, especially as it constitutes one of the most severe obstacles facing the business community.
The Business Barometer report reflects the results of a sample survey of 121 private sector companies distributed across sectors as follows, manufacturing industries 50%, financial services 13%, construction and construction 12%, transportation 10%, tourism 8%, communications 7%, and represented For the various micro, small, medium and large enterprises according to the definition of the Central Bank issued in March 2017.
The Barometer Business Index represents a simple average of the set of sub-indices of the variables mentioned in the questionnaire, namely production, local sales, exports, commodity inventory, the level of utilization of production capacity and prices, as well as wages, employment and investment trends; it is calculated once for large companies and again for MSMEs. To evaluate performance and set expectations.
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