The economy in Egypt has been performing quite well in the last four years, but the global economic crisis is starting to take its toll, particularly on exports and the tourism sector.
Piracy and the downturn have affected Suez Canal traffic
The downturn is also affecting the level of shipping coming through the Suez canal, a vital source of revenue for Egypt.
To support the economy, the government has recently announced a $1.2bn stimulus package, as well as tax breaks and other incentives to attract outside investors.
But despite the downturn, some in Egypt feel this global crisis could present opportunities.
The BBC's Christian Fraser has been to the country's only business park to gauge the mood.
Listen Listen to his report (4 mins 14 secs)
The Prime Minister, Ahmed Nazif, has overseen the bringing of technocrats into government.
New developments are yet to benefit many people in Egypt
One of the foremost figures in this new government is the trade and industry minister Rashid Mohammad Rashid.
He was educated at Stanford University in the United States, is a former executive of Unilever and is widely believed to be the man that is driving some of this important change.
Listen Listen to trade and industry minister, Rashid Mohammed Rashid (4 mins 34 secs)
One man who follows development in Egypt and across the region is Angus Blair, Head of Research at investment bank, Beltone Financial.
So, should the Egyptian government be worrying, or looking to take advantage of the current global situation?
Listen Listen to Angus Blair (3 mins 42 secs)
First broadcast 17 December 2008
