24 October 2017 02:16 AM

Economic Development and Investment

Monday، 20 July 2009 12:00 AM


Egypt has one of the most developed and diversified economies in the Middle East. Until 2010, Egyptian economy was growing an average 5 per cent a quarter as a result of several economic reforms attracting foreign investments. During that time, the economy and the living standards for majority of population improved.

 

The 2011 revolution, which brought down President Hosni Mubarak regime, have caused economic slowdown as political and institutional uncertainty and rising insecurity continue to hurt tourism, manufacturing, and construction.

 

Egypt's political transition culminated in the election of a president and a parliament. The new assembly is largely supportive of the policies introduced by the president, Abdel Fattah el-Sisi.

 

The political transition process initiated in June 2013 came to an end with the election of the House of Representatives in December 2015.

 

The economy started to recover in 2014/15, as the government scaled up infrastructure spending and undertook important measures to restore macroeconomic stability by moving away from universal subsidies towards a more targeted transfer program, taking measures to contain the wage bill and increasing tax revenues


As such, growth rebounded to 4.2 per cent in 2014/15, double the growth during the previous four years.


The Central Bank of Egypt has thus moved towards a more flexible exchange rate management regime in mid-March 2016; alleviating pressures on the external accounts and partially resolving a binding constraint on economic activity.

 

Financial soundness indicators point to the continued resilience of the banking sector and the government is making efforts to deepen financial inclusion. Nevertheless, continued fiscal and economic reforms are needed to sustain growth.

 
Egypt has also made significant strides in human development indicators: child mortality, life expectancy, primary and secondary school enrollment, and literacy rates have improved dramatically in the past thirty years.  Here too, however, governance issues continue to affect health and learning outcomes. To protect the poor, the government has targeted 1.5 million households in a new cash transfer program.

 
Far-reaching structural reforms are needed to transform Egypt’s economy into a dynamic system that can reduce poverty, create productive employment opportunities, and maintain social and political stability. 

 

The Gross Domestic Product (GDP) in Egypt expanded 4.50 per cent in the second quarter of 2015 over the same quarter of the previous year.

 

GDP Growth Rate in Egypt averaged 3.81 per cent from 1992 until 2015, reaching an all time high of 7.30 per cent in the first quarter of 2008 and a record low of -4.30 per cent in the first quarter of 2011. GDP Growth Rate in Egypt is reported by the Central Bank of Egypt.

 

Egypt GDP

Last

Previous

Highest

Lowest

Unit


GDP Growth Rate

4.50

3.00

7.30

-4.30

percent

[+]

GDP Annual Growth Rate

4.50

3.00

7.30

-4.30

percent

[+]

GDP

286.54

271.97

286.54

4.00

USD Billion

[+]

GDP Constant Prices

469400.00

485069.60

485069.60

316764.40

EGP Million

[+]

Gross Fixed Capital Formation

58.00

64.00

76.00

40.00

EGP Billion

[+]

GDP per capita

1575.93

1567.01

1575.93

323.94

USD

[+]

GDP per capita PPP

10791.86

10730.75

10791.86

5973.93

USD

[+]

GDP From Agriculture

48938.00

66015.50

74376.50

42897.60

EGP Million

[+]

GDP From Construction

25302.70

20049.10

25302.70

10878.70

EGP Million

[+]

GDP From Manufacturing

77389.40

75996.40

77639.80

51326.60

EGP Million

[+]

GDP From Mining

60954.40

59137.00

69974.30

56209.00

EGP Million

[+]

GDP From Transport

21625.30

22462.50

22462.50

11148.90

EGP Million

[+]

 

 

 Egypt Economic Development Conference March 2015

 

Most Visited

Egypt and France
Monday، 23 October 2017 12:00 AM
Mutual Visits
Monday، 23 October 2017 12:00 AM
From To