As Egypt enters 2018, a newly liberalised local currency and the recent implementation of a much-anticipated investment framework have left the country well positioned for continued economic expansion: the IMF expects GDP growth to reach 4.5% in 2018 and accelerate to around 6% over the medium term.
Egypt is one of Africa’s main oil and gas producers, but it is also the continent’s largest consumer of energy. Both oil and gas are found throughout the country in multiple onshore and offshore regions, including the Mediterranean Sea, which is emerging as a major new gas basin. Nevertheless, sourcing enough supply to meet demand is the sector’s central challenge, even as these discoveries...
While Egypt continues to face considerable economic challenges as it confronts the legacy of its recent political history, at the outset of 2017 the nation’s economic planners have reason for optimism.
Egypt is one of the oldest energy producers in the Middle East, with a history of commercial oil production dating back more than a century. The country benefits from low production costs and a relatively large volume of both onshore and offshore oil and gas fields. Developed infrastructure has allowed the country in past decades to maintain a sizeable export market, through shipped products...
Located at a crossroads between Africa, Asia and Europe, Egypt remains one of the world’s most strategically important countries, as it has been for millennia. Egypt has the third-largest GDP in the Arab world, after oil-rich Saudi Arabia and the UAE. It is considerably more diversified than many economies in the region, with manufacturing and agriculture key contributors, making up 14.5% and 15.7% of GDP, respectively, according to the Central Bank of Egypt, as well as oil and gas extraction.
For millennia Egypt has been one of the most strategically important places on earth, and often one of its most culturally influential. Despite significant structural issues and the political instability of the past few years, it remains a country of great regional and global importance.
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