Egypte 

Egypte landenbeleid

Beleid vastgesteld op 29 maart 2011

• Case-by-case beleid
• Er is een landenplafond van 1500 mln euro van kracht
• Het signaleringsplafond is 1150 mln euro
• - waarvan per 2012-02-29 12 mln euro benut is

Landenklasse: 5

Restricties

• Verlengde wachttermijn: 9 maanden

Overheidskopers: garantie Monetaire autoriteit (Min. Fin., centrale bank (onvoorwaardelijk)

Public buyers: guarantee MoF or central bank

Particuliere kopers: Onherroepelijk accreditief of bankgarantie (voorwaardelijk)

Private buyers: ILC, commercial bank guarantee (conditional)

Gegeven de veiligheidssituatie in Egypte zullen nieuwe verzekeringsaanvragen op Egypte met de nodige terughoudendheid in behandeling worden genomen waarbij vooral een zorgvuldige afweging van het fabricatierisico bepalend zal zijn voor de voortgang van de zaak.

Egypte landenrapport

Country Report last updated :  February 20th, 2012   Atradius Dutch State Business Economic Research
Country :  EGYPT

Political situation
Uncertainty Remains

Head of state
Mubarak no longer president of the country (he ruled since 1981). Since late November 2011 Mr. Ganzouri is prime minister. Army in charge.

Form of government
SCAF is governing until new elected civilian government. Presidential elections expected in May 2012. Parliamentary elections contain People’s Assembly (lower house with 498 members) and Shura Council (upper house with 270 members). Two-thirds will be elected from party lists and one-third individuals. Two houses together will select 100-member committee to draft new constitution. Draft will be put to referendum and after referendum registration of presidential candiCountry Report last updateds will begin.

Internal Economic Situation
Lower Growth Due Political Instability

General situation
Economic growth decreased to 1.8%, after 5.1% in 2010. More downside risk to economic growth due to political instability. Tourism and investments have been hit. Inflation remains high. In 2011 inflation 9.9% and expected is a decrease to 8.5% in 2012. Banking sector stable, resilient to unrest. NPL are high at 11% in September 2011. More exposure to sovereign risk.

External Economic Situation
Risk On Balance Of Payments Crisis

Main sources of foreign exchange
Tourism, workers remittances, crude oil, LNG; Suez Canal receipts, foreign aid, ‘non-traditionals’ slightly improving.

Main foreign markets
EU 34%, the US 8% and Middle East states 17%. Merchandise export 20% GDP

Main expenses of foreign exchange
Import of raw materials and capital goods.
 
Balance of payments 
Exports under pressure, Tourism revenues and FDI are decreasing, capital outflows. Needs financial assistant (from US and Arab countries (Saudi Arabia, UAE)