|
Description |
1990/91 |
1997/98 |
|
Total external debt |
US $49.2 billion |
US $26.6 billion |
|
Total external debt as a percentage of GDP |
151% |
37.7% |
|
Real interest rates |
(6%) |
5% |
|
Inflation rate |
21.2% |
4.1% |
|
Total foreign reserve (Billions of US$) |
3.6 |
21.8 |
|
Budget deficit as a percentage of GDP |
18.2% |
0.06% |
|
Real GDP growth rate |
3.6% |
5.7% |
Source: Omran, M. (2001)
|
Privatization Technique |
1993 |
1994 |
1995 |
1996 |
1997 |
1998 |
1999 |
2000 |
2001 |
2002 |
2003 |
Total |
|
Majority through stock market |
0 |
0 |
1 |
14 |
14 |
8 |
0 |
1 |
0 |
0 |
0 |
38 |
|
Sold to Anchor Investor |
0 |
3 |
0 |
3 |
3 |
2 |
9 |
5 |
3 |
1 |
0 |
29 |
|
Sold to Employee Shareholder Association |
0 |
7 |
3 |
0 |
3 |
12 |
5 |
0 |
1 |
2 |
0 |
33 |
|
Companies sold 40 % (stock market) |
0 |
1 |
2 |
6 |
1 |
0 |
0 |
0 |
0 |
0 |
0 |
10 |
|
Companies sold less than 50 % (stock market) |
0 |
0 |
4 |
0 |
1 |
1 |
0 |
0 |
0 |
0 |
0 |
6 |
|
Companies under Liquidation |
6 |
2 |
2 |
1 |
3 |
6 |
7 |
3 |
2 |
1 |
0 |
33 |
|
Sold as Production asset |
0 |
0 |
0 |
1 |
1 |
3 |
4 |
6 |
3 |
3 |
6 |
27 |
|
Leased Companies and Production Units ( Long – term lease ) |
0 |
0 |
0 |
0 |
1 |
0 |
6 |
10 |
1 |
0 |
3 |
21 |
|
Total |
6 |
13 |
12 |
25 |
27 |
32 |
31 |
25 |
10 |
7 |
9 |
197 |
Source : ARE, Ministry of Foreign Trade. Egypt 2004 ( Cairo : Ministry of Foreign Trade )
|
L.E. Millions |
1997 |
1998 |
1999 |
2000 |
2001 |
2002 |
2003 |
Total |
|
Complete or Majority through stock offering |
2271 |
1340 |
0 |
47 |
670 |
0 |
0 |
4328 |
|
40 % through stock offering |
447 |
276 |
2665 |
2345 |
316 |
28 |
0 |
6077 |
|
Companies sold less than 50 % (stock market) |
79 |
350 |
75 |
0 |
51 |
11 |
0 |
566 |
|
Sales to Majority investor |
125 |
0 |
0 |
0 |
0 |
0 |
0 |
125 |
|
Sales to Employees |
221 |
76 |
0 |
0 |
0 |
0 |
0 |
297 |
|
Sold as Production assets |
6 |
316 |
45 |
84 |
38 |
12 |
113 |
614 |
|
Total |
3149 |
2358 |
2785 |
2476 |
1075 |
51 |
113 |
12007 |
Source : ARE, Ministry of Foreign Trade. Egypt 2004 ( Cairo : Ministry of Foreign Trade )
|
Privatized Company
|
Date & Method of Privatization
|
Amount of Government
|
Stage of Post- Privatization Development |
|
Al-Ahram Beverages Company |
December 1996 |
100% |
Noticeably Reformed |
|
The Egyptian Bottling Company for Coca Cola |
April 1994
|
100% |
Noticeably Reformed |
|
Al-Nasr Bottling Company for Pepsi -Cola |
April 1994 |
100% |
Noticeably Reformed |
|
Ideal |
November 1997 |
100% |
Transitional |
|
The Arab Company for Transistors and Electronics |
September 1996 (73%)& October 1999 (27%)
|
100% |
Transitional |
|
Electro Cables Egypt |
December 1997 |
100% |
Transitional |
|
The Egyptian Financial Industrial Company |
May 1996 |
75% |
Transitional |
|
Kafr Zayat Pesticides and Chemicals |
August 1996 |
75% |
Transitional |
|
Nasr City Housing |
May 1996 |
75% |
Transitional |
|
Simo for Paper |
June 1997 |
85% |
Slow to reform |
|
Middle and West Delta Flour Mills |
August 1996
|
61% |
Slow to reform |
|
East Delta Flour Mills |
August 1996 |
61% |
Slow to reform |
|
Upper Egypt Flour Mills |
August 1996 |
61% |
Slow to reform |
|
Misr Free Shops Company
|
January 1997 (77%) & |
100% |
Slow to reform |
|
Al-Nasr Casting
|
December 1997 |
100% |
Slow to reform |