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Egypt Economic Quarterly Review - Volume 3 - April 2013
Egypt’s real gross domestic product (GDP) contracted sharply in Q1 of 2012/13 fiscal year, to 2.6%, year-onyear (y/y), after spiking above 5% in Q3 2011/12. Nominal GDP growth rose to Egyptian pound (EGP) 445.8 billion (bn) in Q1 2012/13, against EGP 402.1 bn in Q1 2011/12, sustained by strong private consumption. Although the speed and trajectory of the recovery remain weak and uncertain, the recent gains are a sharp contrast to the contraction in growth rate to -3.8% in Q3 2011, after the January 2011 revolution.