Companies / Egypt
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Rate Hikes Slow Sales
February 2007 | BMI ViewSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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BMI's latest Egypt Automotive Report estimates that the Egyptian automotive market grew by 20.5% in 2006, which is lower than the 25.0% we had forecast in the previous quarter. We lowered our growth estimate on the basis of a tightening monetary policy. Rate hikes have increased the cost of borrowing, hitting the pace of consumer demand.