Egypt - Economists warn of heavy losses if Saudi Arabia crisis escalates

[sharon sanders]

Saudi Arabia is a major financial partner of Egypt. Any financial problem with Saudia Arabia will most certainly affect the expenditures for public health in Egypt.

machine translation

Economists warn of heavy losses in the event of escalation of the crisis



Mustafa Obeid wrote: In 27 minutes 48 seconds
Warned businessmen and economists from heavy losses to the economy of Egypt in the event of deterioration of the Egyptian-Saudi relations, stressing that Saudi Arabia is a partner of Egypt's first trade among Arab countries.

It is also the second largest investor in Egypt after the United States.

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The value of Egyptian imports from the Kingdom of 2 billion and $ 544 million over the past year, compared to 2 billion and $ 120 million in 2010, an increase of 20%.
included a list of Egyptian exports to Saudi Arabia of food products, home appliances, cables, construction materials, textiles, carpets, fiber, chemical products, fertilizers and detergents, and leather. While included Saudi exports to Egypt, petroleum derivatives, chemicals, ores, oils, gas oil, sweets, juices and beverages.
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The Kingdom has already provided assistance of one billion dollars to Egypt after the revolution, and was going to provide additional aid amounting to two billion dollars, and it is acceptable to blow up the relations are not responsible for the actions of some groups.

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and Saudi Arabia accounted for around two million Egyptian workers.

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http://www.alwafd.org/اقتصاد/30-مال...يون-يحذرون-من-خسائر-فادحة-فى-حال-تصعيد-الأزمة

 

[Laidback Al]

Re: Egypt - Economists warn of heavy losses if Saudi Arabia crisis escalates

Some background discussion and opinion on the Saudi Arabia-Egypt situation.

The closure of the Saudi embassy and consulates in Egypt, and the continued demonstrations in Cairo in front of the Ministry of Interior, point to a coming crisis in the Arab world between the revolutionary states and the conservative ones. . . .

Saudi-Egypt Crisis Points to Conflict between New Democracies, Old Autocracies

 

[sharon sanders]

Re: Egypt - Economists warn of heavy losses if Saudi Arabia crisis escalates

machine translation

Saudi newspaper: Egypt is out of Saudi tourists after the situation worsened between the two countries
Gate-Ahram
1-5-2012 | 09:29 9 2361

Egypt and Saudi Arabia
Said Saudi officials in a statement, told the Saudi economic in its issue of Tuesday, they noticed a big drop in travel reservations Saudi Arabia to Egypt, especially in light of recent tensions that have taken place, indicating that Egyptian hotels are working with 5 per cent of total capacity during the recent period, and to continue in this way will hit the Egyptian economy and exacerbating Ojall. The specialists in travel and tourism to Egypt is experiencing a poor condition in terms of business interruption and tourism there, useful to Saudi families were put Egypt among the priorities in the travel years ago, but today is no longer even within their choices. He officials that the tourist countries and other Arab will also be this year, also outside the list of options of Saudi tourists, depending on the presence of political turmoil that or of the countries around it, which exacerbated their fears, and develop options other tourist in front of them is the most important European countries. said Dr. Nasser Al-Tayyar, President of the largest travel companies Arabia: According to my knowledge to develop travel bookings, Egypt is no longer in the list of options the Saudis in the summer of 2012, due to the worsening political events there, pointing out that the destination focused this summer on the countries of Europe, and America, and Canada. He added, "now do not go to Egypt, citizens living in Saudi Arabia in addition to the Saudis who have the interests of social, commercial, and who they live for a few days, and as we know, everything in Egypt, including the tourism sub-hold at the moment due to the absence of a government official until now."

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http://gate.ahram.org.eg/NewsConten...ية-مصر-خارج-حسابات-السياح-السعوديين-بعد-.aspx