12/08/2001
Al-Alam Alyom Newspaper 2001/AUGUST /12
The chairmen of some Egyptian industrial companies explain the negative and positive effects of the rising value of the US dollar vis-à-vis the Egyptian pound. As imported raw materials are inevitably expected to become more expensive, these managers call for replacing them with local cheaper resources. (Available in Arabic – German in PDF )
The strengthening of the US dollar vis-à-vis the Egyptian pound is being felt by the Egyptian industrial community. As explained by the chairmen of some Egyptian companies, it may have both negative and positive effects (higher bills for imported raw materials, on the one hand, and increasing competitiveness for Egyptian exports on the other). Eventually, though, the negative effects may turn out to be overwhelming. To cut costs, these chairmen call for relying on local resources rather than importing raw materials from abroad. According to some of these chairmen, though, some companies are expected to be affected more than others by this rising value of the US dollar.