Egypt

Egypt Economic Outlook

  • The economic outlook for the rest of 2014 remains weak. Growth will remain fragile, the fiscal deficit unsustainably high, and public debt in excess of 100% of GDP, as Egypt continues to implement expansionary macroeconomic policies with the help of aid from the Gulf countries.
  • Against the backdrop of mounting political unrest and insecurity, socio-economic conditions continue to deteriorate: the unemployment rate is rising, especially among youth (39% of the 20-24 age group are unemployed), and rural-urban income disparities remain wide.
  • The approach of a new Constitution in January 2014 was a key milestone of the transition roadmap issued in July 2013 after the ouster of President Morsi. However, an uncertain political outlook in 2014 will continue to undermine economic recovery prospects.

Contacts

Egypt field office

African Development Bank Group
72b, Al-Maahad El-Eshteraky st. 5th floor
Afreximbank Bldg. – Opposite to Marryland Roxy /Heliopolis
Cairo, Egypt

Phone: (202) 22 563 790/1
Fax: (202) 22 563 792

Mrs. Leila Mokaddem, Resident Representative

Department North Africa Region

Director North Africa Region, Mr. Jacob Kolster

Temporary Relocation Agency (TRA)
15 Avenue du Ghana
P.O.Box 323-1002, Tunis-Belvédère, Tunisia

Phone: (+216) 71102065
Fax: (+216) 71330087

Did you know

40 percent of the population in Egypt is estimated to live on less than two dollars a day and around 21 percent lives on less than one dollar a day

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Key Facts

Flag:
Capital: Cairo
Area: 1,001,000 sq km
Total Population 2013: 82.1 Million
Urban Population 2013: 43.81%
Female Population 2013: 49.78%
GDP: US$ 246.4 Billion
GNI Per Capita 2013: US$ 2,980
Inflation Rate: 6.95%
Crude Birth Rate (per 1000): 23.18%
Human Development Index (rank / 187): 112
Human Development Index (scale 0 to 1): 0.662
Membership Date: 14/09/1964
Cumulative Approvals (1967-2013): UA 3.8 Billion

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