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Briefing

Egypt: Economic Profile

Appears in: Middle East and Africa, Macroeconomy, Egypt, Growth Outlook and Business Cycle

Critical Issues

Background:

In 2007-2008 Egypt beat projections with 7.2% GDP growth, as the economy grew at the fastest rate in two decades.  However, maintaining such growth in the fiscal year (FY) that began on July 1 is a challenge with economic weaknesses in the U.S. and Europe decreasing tourism, foreign direct investment (FDI) inflows, and export outflows.  However, inflation has come down since its August 2008 peak and the construction, telecommunications, and transportation sectors remain strong, giving hope that the Egyptian economu will continue to grow at a high rate.

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Associated Readings

News Bloomberg Alaa Shahine and Abdel Latif Wahba May 28, 2009 Egypt’s Economy May Grow 4.8%, Finance Minister Says News Bloomberg Abdel Latif Wahba May 13, 2009 Egypt Economy Grew 4.3% in First-Quarter of 2009, Cabinet Says News Reuters Frederik Richter Mar 02, 2009 Egypt exports could fall 10 pct this year: minister News Egypt Daily News Alaa Shahine Feb 08, 2009 Egypt to see "Serious Contraction" in Growth, Lower Inflation News Daily News Louis Wasser Feb 23, 2009 Egypt: FDI inflows expected to fall, say analysts News EFG Hermes Jan 29, 2009 Egypt's economy may grow less than 4%, trade and industry minister says Research IMF January 2009 Arab Republic of Egypt: 2008 Article IV Consultation - Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for the Arab Republic of Egypt Analysis Global Investment House December 2008 Egypt Economic Review: Surviving the World Financial Turmoil Analysis IMF Nov 06, 2008 Egypt- 2008 Article IV Consultation, Preliminary Conclusions of the IMF Mission Analysis Daily News Alaa Shahine Nov 24, 2008 Egypt risks unrest if poor not protected in slowdown Analysis Business Intelligence Middle East Oct 21, 2008 Egypt growth may slow, inflation to ease Analysis Standard Chartered Middle East Daily Sep 02, 2008 Real GDP growth in Egypt for 07/08 fiscal year better than expected at 7.2% Analysis Global Investment House February 2008 Egypt Economic & Strategic Outlook - Gaining Momentum Analysis Oxford Business Group Dec 03, 2008 Egypt: Risky Waters Analysis Daily News Sherine El Madany Sep 05, 2008 Egypt economic growth slows amid soaring inflation Analysis Oxford Business Group Oct 27, 2008 Egypt: Softening Expectations

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