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Investment & Trade Committee
Monetary policy and its impact on investment and trade - May 2000 The AmCham Investment & Trade Committee met on May 3 at the Ramses Hilton Hotel to discuss "Monetary policy and its impact on investment and trade." The guest speaker of the meeting was Mahmoud Abul-Oyoun, deputy governor of the Central Bank. The meeting was well received by AmCham members, who actively participated in the question and answer session that followed. Abul-Oyoun demonstrated his points with a detailed overhead presentation, which included statistics and economic figures from various studies and surveys. Key points of the presentation
included: real GDP growth rates for the 1998/99 fiscal year; the
percentage of commodity-sector shares in the GDP for the same year;
and the country’s balance of payments. Abul-Oyoun
spoke on
Egypt’s macroeconomic indicators and explained the breakdown of
sectors according to GDP. The presentation highlighted expenditures,
as broken down between the Egyptian public and private sectors. The
speaker then elaborated on a matrix that was used as a liquidity
indicator. Domestic liquidity and Egypt’s balance of payments in the
last three years, the current account balance and the development of
gross national savings and gross investments were major topics of
discussion in the meeting. Abul-Oyoun
explained that comparison of
gross national savings and gross investments indicated an apparent
resource gap. Other subject matters included exchange-rate
developments from 1997 to the first quarter of 2000, the foreign debt
and debt services, and the progression of the budget-deficit-to-GDP
ratio. The banking sector and its role in this recession period was a matter of
intense discussion.
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