At a conference of the Central Agency for Public Mobilization and Statistics (CAPMAS) on Tuesday, the agency said the rate of newly established companies dropped 60 percent in February, compared to the same period last year.
It also indicated a drop in the reserves of certain strategic commodities at a time when the government is striving to encourage investment and improve the economy.
CAPMAS projected an increase of inflation due to a 15 percent raise in public wages and pensions.
In related news, a Finance Ministry official said the ministry had asked 100 major companies in the petroleum and communication sectors for advance payment of taxes in order to provide liquidity for government expenditure.
Translated from the Arabic Edition
