Egypt’s crashes cost the country

Egypt’s high rate of road crashes is having a damaging effect on the country’s economy. According to the Central Agency for Public Mobilisation and Statistics (CAPMAS), road crashes are having a drain on Egypt’s GDP of around US$3.44 billion/year. This is resulting in a major financial impact on Egypt’s economy that the country can ill afford. Worryingly, the impact of road crashes on Egypt’s economy is expected to climb to around $3.5 billion/year by 2020. On a positive note however, the number of car cras
August 24, 2016 Read time: 1 min
Egypt’s high rate of road crashes is having a damaging effect on the country’s economy. According to the Central Agency for Public Mobilisation and Statistics (CAPMAS), road crashes are having a drain on Egypt’s GDP of around US$3.44 billion/year. This is resulting in a major financial impact on Egypt’s economy that the country can ill afford. Worryingly, the impact of road crashes on Egypt’s economy is expected to climb to around $3.5 billion/year by 2020. On a positive note however, the number of car crashes in Egypt has now dropped by 1.4% compared with the previous year.

Related Content

  • Engine maker Deutz dumps full-year 2015 forecast amid poor trading
    September 16, 2015
    German engine maker Deutz Group said it will not meet its forecast for the current financial year. A sluggish second quarter with “very low” new orders means revenue is expected to fall by around 20% compared with the forecasted 10% drop, according to a corporate statement. “Consequently, the second half of 2015 will be significantly worse than the first half of the year,” the statement said. “Given the low level of business, Deutz will only be just about break even in terms of EBIT this year. Unt
    Read More
  • Dutch road deaths nearly halved in 15 years
    July 18, 2012
    Dutch road deaths have nearly halved in the last 15 years, according to new figures by the country’s central statistics bureau CBS. There were 661 road deaths in the Netherlands in 2011, down 47% from 1,251 in 1996. For passenger cars over the same period there was a 73.5% decrease in road fatalities, from 609 to 221.
    Read More
  • Wacker Neuson bullish with strong results
    May 12, 2021
    Wacker Neuson is bullish with strong results for the start of 2021.
    Read More
  • VDMA: “No reason for any worries” in construction equipment market
    July 16, 2013
    There is “no reason for any worries” in the global construction equipment and building material manufacturing industry despite a lack of growth in 2013, according to the German-based VDMA association. In a release issued after the association’s summer board meeting in Hameln, northern Germany, a VDMA spokesperson said, “Bauma, the industry’s leading international fair held in April, in particular helped to change the industry’s mood significantly. Directly or indirectly it led to a great number of new order
    Read More

Highlighted Content