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Egypt Economic Quarterly Review - Volume 1 - June 2012

25-Apr-2013

Economic Growth

Egypt’s economy continues to recover from the adverse shocks of the January 2011 revolution, but the speed and trajectory of the recovery is weak and uneven. Historically, from 2006 until 2010 Egypt’s average annual GDP was about 6% (Chart 1). Real GDP growth (at 2006/2007, JulyJune, market prices) improved to 0.4% by the end of the second quarter of 2011/2012 (October-December) from a growth rate of 0.2% in the previous quarter, and after a weak third quarter of 2010/2011 when the economy contracted by 4.3%. Despite the positive signs, recent data released by the Egypt’s Ministry of Finance reflects a lackluster recovery because of the ongoing political uncertainties.

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