Egypt update

Inflation in Egypt is set to decrease to single digits. The drop in tourism, Suez Canal receipts, exports, and remittances will slow the economy down, but growth is still expected in 2009. Meanwhile, the government collected an unexpectedly high amount of tax revenue in 2008 and the decrease in energy and commodity prices provided a boost. Conservative estimates and projections of GDP growth range between 3.5 and 4 percent despie the government targeting 5 percent growth