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Idle Egyptian Factories Seek $1B To Resume Production
07/12/2011

About 75 Egyptian factories which closed down shortly before or during the January 25 revolution will need seven billion Egyptian pounds ($1.2 billion) to resume production. The central bank of Egypt has stressed the difficulty of providing funding to these factories because many of them are saddled with heavy debts taken out by businessmen who are in default, and some have been arrested on charges of corruption. As a result, many former workers in these factories are unemployed, exacerbating an already high rate of unemployment in Egypt.

Source: Al-Sharq Al-Awsat, London, July 12, 2011

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