The pickup is driven by public and private investments and private consumption. Budget execution remains largely manual although the. Egypts economic indicators of 2017, 2018 egypt today. Occupying the northeast corner of the african continent, egypt is bisected by the highly fertile nile valley where most economic activity takes place. At that time, the egyptian economy was projected to decrease growth to around 2. Egypt 2018 african economic outlook egypts real gdp grew at 4. It is averaging less than 3 percent in the gulf cooperation council gcc in 2018, despite edging upwards recently due to vat introduction in its two largest economies. Global economic prospects examines trends for the world economy and how they affect developing countries. Energy outlook downloads and archive energy economics home. In july 2018, egypts house of representatives approved a usd 500 million loan from the world bank groups international bank for reconstruction and development, to go towards the fiveyear supporting egypt education reform project, which aims to modernise the public school. Restoring macroeconomic sustainability and supporting growth. Egypt economic outlook african development bank building. Forecasts are provided by leading economists whose views are shown as the average mean forecast.
Authorities are gradually opening up the economy again, after containment measures were imposed in march to slow the spread of coronavirus, which included the suspension of flights and the temporary closure of. Exportsimports relate to data concerning goods and services and share of gdp world bank database official name. Egypts high public debt, which hovers around 100% of gdp. Egypt african economic outlook 2015 gdp growth in the fourth quarter of the 2014 fiscal year fy was 3. Egypts economy was highly centralized during the rule of former president gamal abdel nasser but opened up considerably under former presidents anwar elsadat and mohamed hosni mubarak. Egypts economic outlook october 2018 world bank group.
Exports of goods and services have contributed positively to economic activity, as oil and nonoil merchandise exports, the suez canal and tourism. Jordan economic growth plan 2018 2022 infrastructure and economic sectors as discussed in page 9, a 5% growth in gdp equals usd 1. In addition, libya, which did not participate in 2017, will. For the latest forecasts on the economic impacts caused by the coronavirus pandemic, please consult the oecd economic outlook interim report coronavirus. In the first quarter of fiscal year 2019, which runs from july 2018 to june 2019, the annual economic growth rate moderated slightly.
The renewables readiness assessment and remap country analysis which together form this renewable energy outlook study will help egypt to achieve such targets. The oecd economic outlook is the oecds twiceyearly analysis of the major economic trends and prospects for the next two years. Egypt is home to a wide array of untapped solar and wind resources, and according to the ises 2035, renewable energy capacity should contribute 42% of power capacity by 2035. Amid higher oil prices, gcc economic growth and public finances improved in 2018, with governments advancing their. Economic indicators for egypt including actual values, historical data charts, an economic calendar, timeseries statistics, business news, long term forecasts and shortterm predictions for egypt economy. The figure below showed how much each sector must grow by to achieve 5% gdp growth throughout 2018 2022. Nevertheless, the global economy is still far from achieving trend growth, making the recovery the most protracted in the past century. Restoring macroeconomic sustainability and supporting growth 10 fiscal consolidation goals 10 tax policy and revenue reforms 12. The bank expected egypt to achieve a growth rate of 5. But with growth still above potential in most dm economies, we look for continued labor. Arab republic of egypt economic outlook spring 2018 english abstract.
As reform momentum is sustained, economic activity is expected to improve and imbalances are projected to narrow further. African economic outlook 2016 algeria angola benin botswana burkina faso burundi cabo verde cameroon central african republic chad comoros congo. Authorities are gradually opening up the economy again, after containment measures were imposed in march to slow the spread of coronavirus, which included the suspension of flights and the temporary closure of most businesses, in addition to nightly curfews. Mohandes insurance approves increase capital by egp 37. The pandemic is putting pressure on emergingmarket capital flows, forcing egypt to dip into currency reserves. Inflation in the middle east and north africa fell from octobers 4.
Cairo, dec mena all economic indicators in 2018 showed a tangible improvement, according to the media center of the cabinet on thursday. The growth rate of egypts gross domestic product gdp in 2019 was 5. Egypts mediumterm strategy and outlook 3 checklist of implemented, pending and planned reforms 5 promising signs that egypt is on the right track 7 iii. Egypt the economic outlook for 2017 remains cautiously optimistic largely based on the governments ability to maintain the policy and structural reform agenda as well as successfully implement the sustainable development strategy. The report includes countryspecific threeyear forecasts for major macroeconomic indicators, including commodity and financial markets. Economic development in africa report 2018 united nations intraafrican migration is a catalyst for economic growth and structural transformation. Sustained and accelerating growth provides evidence of an expansionary fiscal consolidation in a context of a competitive exchange rate and. The nearterm growth outlook is favorable, supported by the. The reading was the lowest since june 2018 and mostly reflected declining inflation in algeria, israel and iran.
Egypts economy is recovering, supported by prudent macroeconomic policies and initial bold reforms aimed at addressing the major challenges that have confronted the economy in recent years. Growing confidence in the currency and greater stability will boos private sector. Usaid focuses on both restoring sites as well as boosting the tourism sectors role as an engine of economic growth and employment. The 2018 edition of the global competitiveness report represents a milestone in the fourdecade history of the. General assessment of the macroeconomic situation policy challenges from closer international trade and financial integration developments in individual oecd and selected nonmember economies statistical annex. In addition, our analysis includes 4 years of historical data. The president, abdel fattah elsisi, was reelected in 2018. African economic outlook 2016 algeria angola benin botswana burkina faso burundi cabo verde cameroon central african republic chad comoros congo congo, dem. In the midst of rapid technological change, political polarization and a fragile economic recovery, it is critical that we define, assess and implement new pathways to growth and prosperity.
Macroeconomic conditions are improving, as egypts twin deficits are narrowing and inflation has receded sharply in recent months. Other factors supporting growth include the recalibration of governments social inclusion programs away from general subsidies on energy products to targeted transfers and. Egypt 2018 macro update we expect the real gdp growth rate to accelerate to 4. Economy forecast economic growth april 7th 2020 government delays projects following economic shutdown. Interim global economic outlook assessment, march 2018. Time to entrench growth and make it more inclusive. Egypts economic outlook in world banks report egypt today. Oecd ilibrary oecd economic outlook, volume 2018 issue 1. With his term extended and a further term permitted he could rule until 2030 although he will face some dissent to his authoritarian rule. Table 2 arab republic of egypt macro outlook indicators annual percent change unless indicated otherwise 2014 2015 2016 e 2017 f 2018 f 2019 f real gdp growth, at constant market prices. Egypt 2018 african economic outlook egypt s real gdp grew at 4. The global competitiveness report 2018 world economic forum. Real gdp growth is expected to continue rising gradually to.
Arab republic of egypt economic outlook spring 2018. Improving long term sentiments in the six months since our midyear 20 report, we have become more optimistic about the recovery from the 200809 recession. Economy for the latest forecasts on the economic impacts caused by the coronavirus pandemic, please consult the oecd economic outlook interim report coronavirus. In tunisia, inflation has risen markedly as the dinar has depreciated, leading the. This positive performance reflects the efforts made by the egyptian government to achieve fiscal consolidation. Building political legitimacy amidst economic crises, crown center for middle east studies, middle east brief 106, february 2017, 6. It is averaging less than 3 percent in the gulf cooperation council gcc in. Real gdp is forecast to grow by 5% in fy18, and to increase gradually to 5. Egypt economy, politics and gdp growth summary the. Table 2 arab republic of egypt macro poverty outlook indicators annual percent change unless indicated otherwise 2015 2016 2017 e 2018 f 2019 f 2020 f real gdp growth, at constant market prices 4. Egypt economic forecasts published monthly, consensus forecasts offers a concise outlook for the egyptian economy. The central bank has cut key policy rates for the first time since the tightening cycle that accompanied the exchange rate. Market maker licence expected to be out this month.
This page has economic forecasts for egypt including a longterm outlook for the next decades, plus mediumterm expectations for the next four quarters and shortterm market predictions for the next release affecting the egypt economy. Despite resurfacing price pressures in gcc countries, inflation will moderate slightly this year on falling inflation in egypt and iran. The egypt economic profile is an essential reference for decisionmakers looking for timely information about egypts transforming economy. Egypt gross domestic product gdp growth rate 2021 statista. Macroeconomic performance and outlook economic growth in egypt, estimated at 5. Economic policy reform will continue, albeit at a slower pace. Egypt economy gdp, inflation, cpi and interest rate.