GDP in Egypt
Egypt - GDP
The economy grows at a steady pace in the second quarter of FY 2019
According to an announcement by the Ministry of Planning and Administrative Reform on 16 January, GDP increased 5.3% in October–December (Q2 FY 2019) compared to the same three months a year earlier. This matched the growth rate achieved in July–September. Although comprehensive data is not yet available, this latest outturn was driven by increased investment.
On the same day, the Ministry of Planning and Administrative Reform announced that the unemployment rate is expected to have edged down to 9.9% in October–December, down from 11.0% in the previous period. This, coupled with higher public-sector salaries and pensions effective from July, suggests private consumption growth also likely contributed to the headline growth reading.
Looking ahead, the economic outlook appears bright. Although inflation has picked up recently on the back of energy subsidy cuts and higher food prices, it is expected to moderate going forward, easing the financial strain on consumers. In addition, higher salaries and pensions in the public sector will likely continue to support private consumption. Meanwhile, investment should reap further benefits from recent reforms to improve the business environment and higher government investment spending this fiscal year.
Met the why particular panelists expect GDP to expand 5.2% in FY 2019, which is unchanged from last month’s forecast, and 5.2% again in FY 2020.
Egypt - GDP Data
|Economic Growth (GDP, annual variation in %)||2.2||2.9||4.4||4.3||4.2|
5 years of economic forecasts for more than 30 economic indicators.
Egypt GDP Chart
Source: Ministry of Planning.
|Bond Yield||17.75||0.0 %||Feb 14|
|Exchange Rate||17.54||0.0 %||Feb 14|
|Stock Market||1,436||0.53 %||Feb 14|
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February 11, 2019
In January consumer prices rose 0.6% compared to the previous month, contrasting the 3.4% decrease in December.
February 5, 2019
The Emirates NBD Egypt Purchasing Managers’ Index (PMI) fell to 48.5 in January from 49.6 in December, representing the lowest reading since December 2017.
January 16, 2019
According to an announcement by the Ministry of Planning and Administrative Reform on 16 January, GDP increased 5.3% in October–December (Q2 FY 2019) compared to the same three months a year earlier.
January 11, 2019
The Emirates NBD Egypt Purchasing Managers’ Index (PMI) ticked up to 49.6 in December from 49.2 in November, which represents a four-month high.
January 11, 2019
In December consumer prices fell 3.39% compared to the previous month, more than the 0.76% decrease in November.