Economics & Finance

Egypt MP confirms closure of 30% of textiles factories

Middle East Monitor – Egyptian MP Enas Abdel Halim confirmed that 30 per cent of the country’s textiles factories have closed as a result of the recession and deteriorating economic conditions in the country.

Abdel Halim said the remaining factories had reduced production by 50 to 70 per cent.

She explained that Egypt had about 1,260 spinning, weaving and dyeing factories registered in Mahalla, but now only 320 factories are operating, employing 120,000 workers.

The MP warned the government against neglecting this issue, while calling for the Minister of Trade and Industry, Nevin Jama, to be questioned in parliament about the recent deterioration in the textile sector.

Egypt’s unemployment rate rose to 9.6 per cent in the second quarter of 2020 compared with 7.5 per cent a year earlier, due to the coronavirus pandemic, the statistics agency CAPMAS revealed in August.

Middle East Monitor
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