Economic_System_In_Egypt

Economic System In Egypt THE ECONOMIC SYSTEM IN EGYPT PRIVATE SECTOR: Ready for action As Egypt is known for it’s mixed economic system ,Compared with other emerging markets, Egypt's private sector is tiny. The public sector still accounts for almost 70 per cent of GDP despite the fact that hundreds of public enterprises have been wholly or partly privatised during the past four years. Judging, however, by the rapid growth of some of the country's largest family-owned businesses, this is unlikely to hold true five years from now. Raouf Ghabbour, chairman of Ghabbour Group, a family business and the country's largest assembler and distributor of motor vehicles, says there are hundreds of medium-sized companies which are growing fast enough to qualify for joint-stock status within three or four years. Ghabbour Group is one of only a dozen or so unlisted private sector companies with a turnover of more than E£1bn. This is considered a minimum threshold for a company to launch a successful public listing. "Our turnover has been growing at about 25 per cent a year this decade," says Mr Ghabbour. "There are countless small and medium-sized companies with this kind of growth rate." Much like Orascom, Egypt's largest family-owned group, which has interests ranging companies, sector, says, public, group, ghabbour, egypt's, years, growing, few, egyptian, egypt, year, turnover, pharmaceutical, per, offer, now, mr, largest, however, foreign, family-owned, country's, cent, been, about, within, uruguay, textile, system, successful, stocks, small, similar, sheta, share, shaarawi, round, publicly, private, past, medium-sized, market's, market, little, listed, laws, launch, investors, interests