Egypt Economy

Chapter | Economy from The Report: Egypt 2022

Egypt’s robust fundamentals – supported by a diversified economy, sustained levels of consumer spending and a large workforce – has created a dynamic business climate and helped further develop the economy. This has enabled the country to avoid some of the more severe repercussions of the Covid-19 pandemic faced by neighbouring nations. According to IMF forecasts, GDP is expected to expand...

Located at the geographic centre of the MENA region, Egypt has a well-documented history that has seen it accumulate knowledge and wealth over millennia. Egypt proved resilient during the Covid-19 pandemic: it was the only country in the MENA region to record positive GDP growth in 2020. Its economy has been widely driven by the execution of Egypt Vision 2030. This plan notably aims to increase annual GDP to 12% in 2030.

Displaying 1 - 6 of 255


It is integral to Egyptian culture to be courteous to foreigners. A conversation, whether business-related or not, is usually accompanied by coffee, tea or juice. Social rules dictate the appropriate way to greet people in business meetings. Close friends of the same sex will sometimes greet with a kiss on each cheek, although a handshake...


Corniche El Nil, Garden City, Cairo
T: +20 (2) 2798 8000

Rooms: 721 rooms, including 68 business, junior, executive, Nile and presidential suites with Nile view.


Egypt’s legal framework outlines restrictions on foreign investment only in specific sectors. These include commercial agencies (which require 100% local ownership), import firms (51% local ownership) and certain activities that require regulatory approvals – irrespective of the nationality of the investor – such as banking and insurance. Companies operating in the Sinai...

Given the recent adverse global developments – and as a continuation of the national structural reform programme first initiated in 2016 – the government of Egypt has undertaken several key reforms aimed at alleviating the impact of inflation while ensuring the economy remains stable.

In an implementation of presidential directives, the support and social protection allocations have been increased to LE356bn ($22.6bn) in the new draft general budget. The Covid-19 pandemic and the challenges brought about by the war in Ukraine have created an unprecedented inflationary wave. This initiative will support the sectors and groups most affected by the current...

Egypt was one of the few economies to witness positive GDP growth in the first two years of the Covid-19 pandemic, fuelled in part by strong consumer spending. According to a November 2021 report from Fitch Solutions, real household spending expanded by around 7% in both 2020 and 2021 – despite the widespread impact of the pandemic, which hit key sectors such as tourism...

Covid-19 Economic Impact Assessments

Stay updated on how some of the world’s most promising markets are being affected by the Covid-19 pandemic, and what actions governments and private businesses are taking to mitigate challenges and ensure their long-term growth story continues.

Register now and also receive a complimentary 2-month licence to the OBG Research Terminal.

Register Here×

Product successfully added to shopping cart