Many economies predict significant economic impact and recession as a result of the Covid-19 crisis, with recovery to pre-Covid levels unlikely for years not months. In the Middle East and Africa the International Monetary Fund (IMF) is predicting that “Egypt is the only country in the region that will maintain a positive economic growth rate despite the severity of the emerging Corona Virus Crisis”.
CILT Egypt have sent a detailed and wide ranging report on the steps taken on both business and societal levels. In Egypt the government has taken a variety of public health and economic measures including fiscal and monetary responses to curb the anticipated economic recession and avoid widespread bankruptcies.
Measures undertaken to support business continuity and mitigate risks associated with the crisis cover multiple sectors including shipping and logistics, passenger transport, automotive and retail. They also include ambitious plans to maintain training and education in schools and colleges. Investment for the future is focused on digitisation, further development of the green economy, local and regional development, and social protection measures.
To understand the breadth of these business continuity plans read CILT Egypt’s comprehensive report.
This is an example of industry analysis from Egypt which we are sharing as part of our global best practice resource to help you think about and determine appropriate responses locally.