13/10/2001
Al-Alam Alyom Newspaper 2001/OCTOBER /13
The US-led war on Afghanistan is greatly affecting the entire world. In Egypt and indeed the Arab world, the most affected sectors are tourism, imports and exports, transportation, insurance and even culture. Yet, some experts believe the strikes are also having some positive effects on the Egyptian economy, especially in light of the current slump in the value of the US dollar. (Available in Arabic – German in PDF )
The US-led war on Afghanistan is having great repercussions on the world, amid fears that the conflict might expand beyond that part of the world. Egypt and indeed the Arab world have their share of repercussions, too, and the most affected sectors are tourism, imports and exports, transportation, insurance, and even culture. Many investors working abroad have also been forced to get back to Egypt, leaving their moneys abroad and finding it hard to get them back. Yet, some experts believe the strikes are also having some positive effects on the Egyptian economy. The slump of the US dollar to its lowest level in decades has led to abundant reserves of this hard currency in local banks. Imports are going down, too, thus boosting the sale of local products provided that their quality is improved so as to conform to international standards.