In-Depth Analysis
Egypt
Economic growth in Egypt has remained very weak since the uprising in early-2011. Furthermore, the country’s external position has weakened considerably, owing to a sharp drop in tourism revenues and foreign investment, as well as an increase in imports due to higher global commodity prices.
Egypt’s medium-term economic growth prospects are reinforced by strong infrastructure expansion and fiscal stimulus in the form of higher capital spending; but some remaining challenges include high unemployment, poor labour market conditions and weak healthcare and education levels. The country’s external position remains strong thanks to an inflow of tourism revenues, remittances and external financing. Nevertheless, the fiscal position remains vulnerable to spending pressures as rising global oil prices push up the energy import bill. (Source: Egypt Quarterly Update, published November 2018.)
Macroeconomic Data
(2018)
|
Fiscal Balance (as a % of GDP) |
-8.7 |
|
Consumer Price Index (% change y-o-y, avg) |
14.1 |
|
Current Account Balance (as a % of GDP) |
-3.2 |
|
Real GDP (annual % change) |
5.3 |
|
GDP per Capita, US$ |
2,726 |
|
Import Cover (months) |
6.4 |
|
Population, million |
99.3 |
| Total External Debt (as a % of GDP) |
35.9 |