[ad_1]
The US news agency (Bloomberg) declared that Egypt is among the 10 most powerful economies in the world in 2020 and has so far managed to overcome the ordeal of the emerging corona virus pandemic.
The US agency added, in a report Friday on its website, that the Corona virus helped African countries compete, and that African economies had overtaken the rest of the world during the Corona virus pandemic, and that between Out of 54 African countries there are now 7 among the economies. The ten fastest growing “Ethiopia, Uganda, Ivory Coast, Egypt, Ghana, Rwanda and Kenya” in the world, in part because the deadly virus may have enhanced its competitive advantage because it accelerated its transformation over a decade of exporting natural resources to centers dedicated to commercial activities. distance.
The shift to technology-driven 21st century business in a region where people are younger than anywhere else is reflected in the changing landscape of 1,300 publicly traded companies that make up companies in Africa, and companies telecommunications have become a strong presence, representing 29% of the total value. The market for companies on the continent in 2020 compared to 13% a decade ago, the materials and energy sectors, which have remained the benchmarks in the region since colonial times, fell to 23% from 34% during the same period.
Africa also managed to fend off the pandemic better than many developing regions, and by mid-November, in some of the continent’s largest countries – South Africa, Nigeria and Ethiopia – it had receded to its lowest levels since April and May, data shows. from Johns Hopkins University.
The report noted that the economies of (Ethiopia, Uganda, Ivory Coast, Egypt, Ghana, Rwanda and Kenya) have weathered the economic effects of the pandemic, to the point that they were among the 10 fastest growing economies in the world. during 2020.
According to data available on the official website of the International Monetary Fund, Egypt is the fourth best performing economy in the world this year, as the institution expects the country’s economy to grow by 3.5% throughout 2020, while Nigeria It has the best performing stock market in the world this year. Among the world’s top 93 stock markets, Nigeria’s stock exchange index of 153 companies ranked first, with a total return of 27%.
[ad_2]
