CAIRO - A contraction in Egypt’s non-oil private sector slowed to its lowest rate in a year in July as parts of the economy opened from a months-long coronavirus shutdown, with output and new orders expanding, a survey showed on Wednesday.
The government suspended international flights on March 19, all but shutting down Egyptian tourism, which it says directly accounts for about 5% of the economy. The government restarted flights and reopened major tourist attractions on July 1. Restaurants and cafes have also been allowed to reopen. “That said... nearly as many companies continued to lower activity due to ongoing structural weakness from COVID-19.”
Somewhere in the world has to be doing well... Glad to see some recovery somewhere
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