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Egypt Economic Quarterly Review - Volume 5 - February 2014

17-mar-2014

Economic Growth

Three years after the January 2011 revolution, real gross domestic product (GDP) growth is 4% lower than average growth over the fiscal years (FY) 2006/07-2009/10. Growth has slowed down to about 2% because of the substantial drag from political unrest since the Mubarak regime exited, and more recently, after Morsi was ousted (Figure 1). Growth has further weakened to about 1.04% in Q12013/14. The low economic growth is barely keeping pace with population growth, pushing more people below the annual Egypt’s poverty threshold of USD 569 per person. Consequently, the overall poverty rate reached 26.3% in FY2012/13, from 21.6% in 2009.

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