GDP in Egypt

Egypt GDP | Economic News & Forecasts

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

2013  2014  2015  2016  2017  
Economic Growth (GDP, annual variation in %)2.2  2.9  4.4  4.3  4.2  

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Egypt GDP Chart

Egypt GDP
Note: Annual variation of gross domestic product (GDP) in %.
Source: Ministry of Planning.

Egypt Facts

Bond Yield17.820.0 %Jan 30
Exchange Rate17.670.0 %Jan 30
Stock Market1,3550.53 %Jan 30

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