The IMF has manipulated the structure of the Egyptian economy; it posts growth rates for Egypt, but these are exaggerated by levels of debt in the same way that one might exaggerate their income … Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. We will not share your email address with any third parties. The ancient Egyptians had many jobs that they needed to keep the economy and that is many of the jobs we have today. Forgot your password? cookies to improve your experience and customise advertising. In 2017 the World Bank estimated that GDP grew by 3.9% over the year, and forecast it would expand by 4.6% in 2018 – a significant improvement on the 2% average GDP growth rate seen between FY 2010/11 and FY 2013/14. Egypt's economy minister named best in Arab world for female workforce plan The National 09:27 25-Nov-20 Egypt on the move: Modernizing the transport network Al-Ahram Weekly 08:18 25-Nov-20 Tenders to mine in Egypt: Golden opportunities Al-Ahram Weekly 07:38 25-Nov-20 Three years ago, Egypt’s economy was teetering on the abyss, as entrepreneurs scoured the black market for dollars and foreign investors shunned the country. Get a sample report showing our regional, country and commodities data and analysis. Use at least 8 characters, an uppercase and a lowercase letter, and a number or symbol. Today, the military’s slice of the Egyptian economy has risen inexorably. Consumer prices increased 1.83% over the previous month in October, picking up from September's 0.29% rise. © Copyright 1997 - 2020 NewsNow Publishing Limited. Egypt’s GDP recorded a growth rate of 5% in FY 2019/20, compared to 5.6% in FY 2018/19. The economy depends heavily on agriculture, tourism, and cash remittances from Egyptians working abroad, mainly in Saudi Arabia and the Gulf countries. Stay on top of Egypt latest developments on the ground with Al Jazeera’s fact-based news, exclusive video footage, photos and updated maps. Egypt almost totally relies on the River Nile for its water supply and recently warned the dam was "a threat of potentially existential proportions" to the nation. Entrepreneurialism is non-existent. The disruptions caused by the COVID-19 pandemic started in Egypt in March 2020, and has since interrupted a period of macroeconomic stability, characterized by relatively high growth, improved fiscal accounts, and a comfortable level of foreign reserves. Please ensure your password has at least 8 characters, an uppercase and a lowercase letter, and a number or symbol. ArabFinance: The Egyptian economy is expected to grow by a subdued 3.3% during fiscal year (FY) 2020/2021, according to a Reuters ’ poll based on 20 economists. No claims are made regarding the accuracy of Egypt Economy 2020 information contained here. Twitter Economic policy will focus initially on mitigating the fallout of the coronavirus, with fiscal consolidation set back, although reforms will be maintained as part of an IMF programme. Egypt invests EGP 4.7B in digital education from 4 Hour. Domestic demand and foreign inflows will take a hit, with the economy and external finances weakening in 2020/21 but growth recovering to about 5% thereafter. The study tracked changes in certain basic macroeconomic indicators during … News, analysis and comment from the Financial Times, the worldʼs leading global business publication All suggestions for corrections of any errors about Egypt Economy 2020 should be addressed to the CIA or the source cited on each page. 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