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'Privatise' the New Buzzword as Egypt Battles Rising Inflation

Egypt is in the process of privatising 32 state entities - including three banks, two military-owned businesses, and numerous businesses in the energy and transportation sectors, writes Hisham Allam for IPS.

Despite it being the third largest economy in Africa in terms of Real GDP - (first is Nigeria and second is South Africa), Egypt is grappling with an economic crisis, as inflation has crept to almost 15%.

Following years of accusations that state companies are crowding out private investments, the government announced a roadmap to more-than-double the private sector's share in the economy, VOA reports.

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Cairo, with view of the Nile River (file photo).

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