Egypt's investment, growth face challenges, says WB

The World Bank called on Egypt and the Middle East countries to accelerating the executive steps designed to increase the GDP growth, and cut the number of the poor and low income brackets through easing the risks related to the economic policies and eliminating the obstacles hindering the activities of firms.

The World Bank, in a report titled development in 2005, said the Middle East countries should face major challenges to improve the investment atmosphere and increase growth rate, namely:

ÊÊÊ First: Curling corruption as most of firms in the developing nations uncovered bribing officials.

Second: Backing the government policies credibility.

According to the report 90 per cent of firms complained about the gap between the government policies and reality.

The World Bank also called on the international community to help the developing nations improve investment atmosphere through removing the obstacles hindering trade.