Cairo – Mubasher: About 83% of Egyptian businesses expect to return to pre-pandemic profitability by the end of 2022, according to the latest HSBC Navigator’s report.
The bank’s 2020 Navigator survey showed that 89% of Egyptian businesses forecast revenue growth in 2021, compared with 64% globally, while 67% forecast growth of more than 5%.
The survey, which polled 209 firms between 11 September and 7 October, showed that 87% of Egyptian businesses plan to increase investment in 2021, despite the challenging environment.
Two-thirds (66%) of Egyptian businesses are adapting to the changing environment brought on by the pandemic, compared to 61% in the Middle East, North Africa and Turkey (MENAT) region and 58% globally.
