GDP in Egypt
Egypt - GDP
GDP growth picks up in October-December period
According to preliminary data, GDP increased an annual 4.0% in the October-December period (which is Q4 of calendar year 2015 and Q2 of Egypt’s 2016 fiscal year). Q4’s result marked an uptick compared to the 3.0% increase tallied in Q3. Q4’s improvement was mainly driven by the fact that exports performed better than in Q3, when they recorded a drastic contraction. Meanwhile, all components of domestic demand grew at a softer pace in Q4 than in Q3.
On the domestic side, private consumption expanded 2.1% in Q4, which followed the 4.2% expansion in Q3. Government consumption growth decelerated to 3.0% in Q4 (Q3: +5.7% year-on-year). Gross investment slowed from an 8.7% rise in Q3 to a 4.4% expansion in Q4. On the external side, exports rebounded from Q3’s massive 25.6% contraction to a modest 2.4% increase in Q4. At the same time, the contraction in imports softened from 6.8% in Q3 to 3.7% in Q4.
FocusEconomics Consensus Forecast panelists expect the economy to expand 3.3% in fiscal year 2016, which is down 0.1 percentage points from last month’s forecast. For fiscal year 2017, the panel sees economic growth at 3.9%.
Egypt - GDP Data
|Economic Growth (GDP, annual variation in %)||1.8||2.2||2.0||2.2||4.2|
5 years of economic forecasts for more than 30 economic indicators.
Egypt GDP Chart
Source: Ministry of Planning.
|Bond Yield||16.80||0.0 %||Feb 15|
|Exchange Rate||16.04||-2.79 %||Feb 16|
|Stock Market||1,133||1.51 %||Feb 16|
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February 16, 2017
At the 16 February monetary policy meeting, the Central Bank of Egypt (CBE) continued its wait-and-see approach and left all main interest rates unchanged for the third consecutive meeting as authorities envisage that the current surge in inflation will be short-lived.
February 12, 2017
In January, consumer prices rose a hefty 4.1% from the previous month.
February 5, 2017
Operating conditions among Egyptian businesses continued to deteriorate in January, affected by skyrocketing prices and subdued domestic demand.
January 10, 2017
In December, consumer prices in Egypt rose a noteworthy 3.1% from the previous month.
December 29, 2016
The Central Bank of Egypt (CBE) held fire at its meeting on 29 December, maintaining all rates unchanged at their respective multi-year highs.