Business Environment | KPMG | EG

Business Environment

Business Environment

largest cities, Climate, Currency,

largest cities, Climate, Currency,

Largest cities

 

  • Cairo (capital)
  • Alexandria
  • Al Jizah 
  • Port Said     
  • Suez

Climate

It is warm and dry in the summer and moderate with limited rainfall increasing at the coast in the winter. The annual average day and night- temperatures in Lower and Upper Egypt are 20 and 25 degrees, and 7 and 17 degrees, respectively.

Natural resources Petroleum, iron ore, phosphate, limestone, manganese, talc, zinc, asbestos, gypsum, gold and River Nile

Currency 

Egyptian Pound (Equivalent to US$0.11approximately) The market demonstrates symptoms of improvement, resulting in remarkable progress in investor sentiment..

After having held the Egyptian pound rate stable against the US dollar in 2014, The Central Bank of Egypt (CBE) tolerated a 24% devaluation during 2015 and 2016. This modification was part of a set of procedures aimed at embracing the black market. The interest rates were increased to alleviate the inflationary effect of energy subsidy cuts.  

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