Egypt

Egypt Economic Outlook

Real GDP growth was an estimated 5.3% in 2018, the highest rate in a decade. The growth was associated with a decrease in unemployment to around 10% from 12% in 2017. On the supply side, recoveries in tourism and in natural gas production sustained growth. On the demand side, net exports and investment rebounded, while private household consumption weakened due to inflation. With the ongoing broad fiscal consolidation effort, the fiscal deficit declined to 9.0% in 2018, and the fiscal balance excluding interest payments (primary balance) reached a modest surplus. The debt-to-GDP ratio decreased to 92.5% in 2018 from 103% in 2017. Following the 2016 devaluation, the nominal and real effective exchange rates dropped substantially, benefiting exports due to increasing price competitiveness and improving terms of trade.

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Key Facts

Flag:
Capital: Cairo
Area: 1,001,000 sq km
Total Population 2017: 95.2 Million
Urban Population 2017: 73.50%
Female Population 2017: 49.70%
GDP: US$ 263.7 Billion
GNI Per Capita 2015: US$ 3,340
Inflation Rate: 16.95%
Crude Birth Rate (per 1000): 25.80%
Human Development Index (rank / 188): 111
Human Development Index (scale 0 to 1): 0.691
Membership Date: 14/09/1964
Cumulative Approvals (1967-2016): UA 4.6 Billion

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Contacts

Egypt Country 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

Ms Malinne Blomberg, Country Manager

Regional Development, Integration and Business Delivery Office (RDIB)

Director General, Mr. Mohamed El Azizi

African Development Bank Group
Immeuble Zahrabed
Avenue du Dollar, Les Berges Du Lac II, Tunis 1053, Tunisia

Tel: (+216) 71102953
Fax: (+216) 71194523

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