Egypt’s International Economic Forum announces the release of its first 2010 CEOs Economic Outlook Survey. 

In its first issue, the Survey examines what CEOs in Egypt have learned from the financial and economic crisis and what steps they are taking to adapt to the post-crisis economic and business landscape. The Survey presents the views of 120 CEOs of leading Egyptian and multinational corporations operating in Egypt. Conducted in June and July of 2010, it focuses on the economic and financial expectations through the end of this calendar year.

In a reflection of the Egyptian economy’s resilience to the global financial and economic crisis, the results show that CEOs view the state of the national economy significantly more favorably than that of the global economy: 81% of CEOs in Egypt reported that they viewed the current state of the Egyptian economy favorably, a sharp contrast to the 71.5% of the respondents that viewed the current state of the global economy unfavorably. Most CEOs recognize that the effects of the global financial and economic crisis could have been far graver for their individual businesses: surprisingly, close to half reported that there was in fact no effect at all to their companies’ performance, and close to 10% believed it was actually positively affected.

While 73.8% of CEOs expressed confidence in the state of the national economy over the next six months, they were not as optimistic about the ability of the Egyptian cabinet to effectively steer the economy during the same timeframe. A closer look at the breakdown of Egyptian CEOs’ confidence in the national government demonstrates a serious need for improvement. The level of confidence that the Egyptian cabinet can positively manage the economy in the next 6 months was nearly divided between a confident outlook (52.4%) and an unconfident one (40.5%). Moreover, 7.1% were very unconfident, and not one was very confident.

The survey’s key findings also address CEOs’ perspectives on company performance, sectoral performance, and short-term growth strategies. In addition, the report constructs an Anxiety Index that roughly measures the relative levels of concern for ten potential threats to business growth. Among these, corruption, quality of the workforce, and traffic topped CEOs’ list of the most challenging obstacles to businesses.

 Read the full report