Money Manager: 'Egypt Is Going to Have Problems With Their Growth'
Egypt is going to face some serious issues with its growth, David Dorsey, who runs the Middle East business for Alden Global Capital, said Monday.
Dorsey has been on the ground in Egypt since Thursday morning researching and trying to get ahead of the actual news, he said.
"I'm just walking around the city, I think that's the most important thing, to see really what is happening, what are people thinking, what are locals doing," Dorsey said. "If you just look around, no businesses are open, so you have to assume there is no GDP being created. So you have to realize Egypt is going to have some problems with their growth. Everybody expects it to grow 5 to 8 percent, but you have to realize that's probably not going to happen this year."