Egypt economy 2013 pdf

Knowledge of population size by age, 2016 45 figure 21. The move came after the militarys ultimatum for the government to resolve its differences with protesters during widespread national protests. The president, abdel fattah elsisi, was reelected in 2018. No claims are made regarding the accuracy of egypt economy 2020 information contained here.

Average annual growth rate of gdp in north africa 2010 20. The economic situation in egypt in the context of political instability. While the shift from authoritarianism is certainly welcome, it has inevitably incited instability unknown to egypt for the past thirty years. This follows a historically positive 20 for egypts stock market, with 24% growth. Egypt economy unlikely to meet 4pct growth in 2012. All companies of the egyptian armed forces are exempt from various state taxes, including income, sales and import taxes.

On the day of egypts constitutional referendum, the egyptian stock market reached a threeyear high. Inflation inertia in egypt and its policy implications. Egypt african economic outlook african development bank. Under the planned economy, the egyptian government had total control over. Egyptian economy forward, to press ahead with recovery plans and to unlock the.

Trends in total fertility rate in egypt, 19882014 32 figure 112 population pyramid of 112016 37 figure 1 crude birth rate, egypt 19872015 43 figure 114. In relation to the size of the population, economic resources are limited. Containing of this inflationary pressure was partially attributed to the decline in food prices, given that egypt is the major importer of wheat in north africa, and food prices represent 40% of. Egypt economy unlikely to meet 4pct growth in 2012 a reuters survey expects egypt gdp to grow just 2. Pdf the egyptian revolution and post socioeconomic impact. Growing confidence in the currency and greater stability will boos private sector. Egypt has the largest population in the middle east and north africa, but its economy ranks just fifth, after saudi arabia, the united arab emirates, israel, and algeria. This page provides egypt gdp growth rate actual values, historical. As military recruits are used as cheap labour the cost of production for the military can remain low relative to private enterprise. Nagarajan department of economics laurentian university canada abstract this paper examines the political economy of egypt to explain the downfall of the mubarak regime in 2011. Egypt crisis hits tourism and economy world news the. The rallies were partly a response to tamarod, a grassroots movement that launched a petition in april earlier that year. Pdf gross domestic product development and employment in. Overview of the egyptian economy, monetary and banking developments, stock market, public finance and domestic debt, external transactions, and real sector developments, in addition to the statistical section.

Strikes, protests and sporadic violence have become a daily occurrence in the middle eastern country. Egypts economic transition has been slow and turbulent since the fall of. The gross domestic product gdp in egypt expanded 5. Land remains egypts main source of natural wealth, but the amount of productive land is insufficient to support the population adequately. Mediumunbiased estimator of inflation inertia in egypt is high compared to other countries, as indicated by its location around the upper quartile among the.

This years coverage includes a record number of 144 economies, accounting for. Pdf the paper is focused on unemployment in egypt during the period. Despite the political uncertainty, egypts economy maintained a growth of 1. Economic policy reform will continue, albeit at a slower pace. The egyptian economy is going through a critical period as the country transitions to democracy. The implementation of economic reform amid this uncertainty is partic. The 30 june protests occurred in egypt on 30 june 20, marking the oneyear anniversary of mohamed morsis inauguration as president. The economic decline of egypt after the 2011 uprising. Egyptian army chief general abdel fattah elsisi led a coalition to remove the president of egypt, mohamed morsi, from power and suspended the egyptian constitution of 2012. The private sector in postrevolution egypt carnegie. It covers egypts economic performance up to september 20 unless otherwise noted based on data which was available at the time of its publication. The economy of egypt was a highly centralized economy focused on import substitution under president gamal abdel nasser. Egypt economy, politics and gdp growth summary the. The overthrow of morsi by the military on 3 july 20 following massive demonstrations calling for him to step down and allow early presidential elections has.

All suggestions for corrections of any errors about egypt economy. The economic consequences of the arab spring by mohsin khan atlantic council rafik hariri center for the middle east the popular uprisings that swept the middle east in early 2011 dramatically altered the political landscape of the region with the overthrow of autocratic regimes in egypt, libya, tunisia, and yemen. Recent developments egypts economy is estimated to have grown at 4. The egyptian revolution carries a challenging transition phase, starting out with problems such as low foreign direct investments fdi, a high budget deficit, a high debt. The economic roots of egypts crisis the washington post. Abdou, zeinab zaazou modern sciences and arts university msa, egypt abstract. The path to a successful economic transition in egypt center for. Egypt is progressing with a well structured program to restore macroeconomic imbalances, address social inclusion priorities, and achieve high, sustainable and welldiversified growth. All years 20192020 20182019 20172018 20162017 20152016. The first two milestones of the political roadmap adopted in july 20 the. Following two quarters of slowdown in growth, economic activity is picking up, driven primarily by the resilient private and to a lesser extent public consump.

Egypts economy was highly centralized during the rule of former president gamal abdel nasser but opened up considerably under former presidents anwar elsadat and mohamed hosni mubarak. The fledgling muslim brotherhood government in cairo must balance the needs of a powerful military establishment with the needs of a fractious populace. Egypt 2018 macro update we expect the real gdp growth rate to accelerate to 4. Egypts political economy and the downfall of the mubarak. In the economic decline of egypt after the 2011 uprising, authors. Egypts political economy and the downfall of the mubarak regime k. Authorities are gradually opening up the economy again, after containment measures were imposed in march to slow the spread of coronavirus, which included the suspension of flights and the temporary closure of. The egyptian military accounts for far less of the national economy than is commonly believed, but its takeover in 20 and the subsequent rise of president abdel fattah elsisi have transformed its role in both scope and scale and turned it into an autonomous actor that can reshape markets and influence government policy setting and investment strategies. Egypts economy depends mainly on petroleum imports, tourism, agriculture, media, and natural gas. The national currency is the egyptian pound le, gineih in egyptian dialect, from british english guinea, which equals a hundred piasters qirsh, or irsh in egyptian arabic. Number of hivaids reported cases in egypt, 198620 67. This paper investigates the degree of inflation inertia in egypt and its determinants using the cross country data consisting of over 100 countries.

In egypt, external linkages to the global economy neither allowed the space for the. Egypt has embarked on a major economic reform program, including the liberalization of the exchange rate regime, fiscal consolidation measures and reforms to the business environment. The egyptian economy faces persistent economic challenges that have only worsened with the unrest that has followed the arab spring. Despite improvement, egypts economy has continued to face many hurdles. The government of egypt, supported by the world bank group, has achieved significant results across all three focus areas under this cpf.

In 2017 the world bank estimated that gdp grew by 3. Egypt african economic outlook 2015 gdp growth in the fourth quarter of the 2014 fiscal year fy was 3. Recent history and current transition status egyptian military in tahrir squarephoto. Five years after the 2011 revolution, egypts economy is floundering and remains far from recovery. With his term extended and a further term permitted he could rule until 2030 although he will face some dissent to his authoritarian rule. This document highlights the economic predicaments and policy shortcomings initiated since 25 january 2011 that have contributed to the ongoing deterioration of the egyptian economy. This was extended to property taxes in 2015 by defense minister sedki sobhi and included military owned supermarkets and hotels. Seven years after the 2011 uprising in egypt, a combination of domestic challenges, together with instability in the middle east and north africaregion has stalled the countrys ongoing transition.

The global information technology report 20 features the latest results of the networked readiness index, offering an overview of the current state of ict readiness in the world. Office management ordering stationery, water, office supplies, general maintenance and functioning of the office. In terms of its devastating effect on egypts poorest. The economy of egypt is moving toward a marketoriented approach after years as a planned economy with import substitution. The liberalization of the exchange rate regime is a key step towards restoring. Egypt in search of economic direction pdf chatham house. Agriculture, hydrocarbons, manufacturing, tourism, and other service sectors drove the countrys relatively diverse economic activity. Egypt economy gdp, inflation, cpi and interest rate. Egypts crisis is already taking a heavy toll on tourism and the economy, with foreign governments advising against travel to the country, holiday.

This page has economic forecasts for egypt including a longterm outlook for the next decades, plus mediumterm expectations for the next four quarters and shortterm market predictions for the next release affecting the egypt economy. As reform momentum is sustained, economic activity is expected to improve and imbalances are projected to narrow further. Abdou and others published the egyptian revolution and post socioeconomic impact find, read and cite all the research you need. Average annual growth rate of gdp in north africa 201020. Mohamed mursi was toppled in july 20, egypt had already received around 8 billion dollars.