The Egyptian Center for the Economic Studies issued a report for the economic development in Egypt in 2008.

The report said that the investment contributed in the economic growth during the 1st 6 months of 2007.

The report said that the increase in the economic growth rate during the 1st quarter of the FY 2007/2008 due to the increase in the investment spending by 30.4%.

The increase of the exports and the local consumption by 10.5% and 8.9% respectively also contributed in the total GDP growth while the governmental spending did not contribute in the economic growth.

According to the data of the Ministry of Economic Development, Suez Canal, construction, tourism and communication sectors are the most sectors contributing in the economic growth rate during the 1st quarter of the FY 2007/2008. Suez Canal growth rate increased by 17.5% while the construction and tourism sectors increased by 16.2% and 16.1% respectively during the same period. Communication sector growth rate increased by 15.6% while the financial, industrial and transport sectors increased by 8.5%, 7.4% and 6.3% respectively.

Meanwhile, the Central Bank of Egypt stated that the revenues of Suez Canal during the 1st quarter of the FY 2007/2008 increased by 22% while the revenues of non-petroleum exports and tourism increased by 19.6% and 16.1% respectively.