Egypt enjoys decent performance despite emerging market crisis: ambassador

CAIRO – 19 November 2018: Egypt enjoys a good and decent economic performance amidst the crisis witnessed by the emerging markets, German Ambassador in Cairo Julius Georg Luy said Sunday.

During a seminar organized by the German-Arab chamber for industry and commerce, Georg Luy lauded, in particular, the Egyptian banking sector's approach in tackling the crisis, as it had a plenty of liquidity and strong infrastructures.

The ambassador urged the policymakers to support financing schemes for small and medium caps, which seen as the real driver for growth in the coming period, and revitalize laws encouraging the private sector and creating jobs.

Egypt is interested in boosting its ties and investments with Germany, which encouraged a giant company as Lufthansa to increase its flight to Egypt by 40 percent, the ambassador said.

Trade exchange between Berlin and Cairo hit six billion Euros through 1000 projects, he added.