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 10.0% 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.
FocusEconomics 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 |
Egypt GDP Chart
Source: Ministry of Planning.
Egypt Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 17.82 | 0.0 % | Jan 30 |
| Exchange Rate | 17.67 | 0.0 % | Jan 30 |
| Stock Market | 1,355 | 0.53 % | Jan 30 |
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Economic News
Egypt: Government remains on fiscal consolidation path with FY 2020 budget
April 1, 2019
On 27 March, the government of Egypt—which is currently pursuing a three-year IMF-backed reform program to strengthen its finances—approved its budget for fiscal year 2020, which covers the period from July 2019 to June 2020.
Egypt: Central Bank stands pat in March
March 28, 2019
The Central Bank of Egypt (CBE) left all interest rates unchanged at its monetary policy meeting on 28 March.
Egypt: Inflation rises to a three-month high in February
March 10, 2019
In January consumer prices rose 1.7% compared to the previous month, up from the 0.6% rise in January and representing the highest month-on-month increase since October.
Egypt: Business conditions in the non-oil private sector deteriorate at a faster pace in February
March 5, 2019
The Emirates NBD Egypt Purchasing Managers’ Index (PMI) fell to 48.2 in February from 48.5 in January, representing the lowest reading since September 2017.
Egypt: Inflation ticks up in January
February 10, 2019
In January consumer prices rose 0.6% compared to the previous month, contrasting the 3.4% decrease in December.
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