Economic reforms introduced beginning in 2004 have had a noticeable impact on the economy’s performance. In the three years prior to the global financial crisis, GDP growth averaged 7% per annum and FDI peaked at $13.2bn in 2007/08. However, the events of the past two years have underlined the fact that Egypt’s growth over the previous years has not been shared by all sectors of society, although...
Egypt
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Chapter | Country Profile from The Report: Egypt 2013
Home to one of the oldest civilisations in the world, Egypt remains the most populous and one of the most influential countries in the Arab world. Over the past two years, a state of transition has become a more or less permanent feature of Egypt’s political scene. Popular protests starting on January 25, 2011 represented Egyptians from a wide spectrum of backgrounds and originated in calls...
The wealth of the Nile River and its fertile banks and delta, together with Egypt’s location at the confluence of Africa, Asia and Europe, have made the country a valuable prize for centuries, as well as a centre of trade and ideas.
Economic update | Realising Egypt’s gas potential
12 Nov 2013
The start of production at a concession in Egypt’s Nile Delta basin by a German firm has come as welcome news, an indication of the sizable potential offered by the country’s offshore blocks. With local consumption growing, the North African state is looking to balance the need to expand output to meet domestic gas demand while at the same time fulfilling its long-term external commitments.
While Egypt has a number of appealing long-term fundamentals – including a large and growing population, broad export profile, strong manufacturing base, natural resources and huge potential tourism revenues – the uncertainty over the country’s stability, economic indicators and broader policies has noticeably slowed growth and production over 2013.
The proposal by Egyptian regulators to allow all four main telecoms companies to provide universal services looks set to shake up the industry, encouraging growth in data service amid a tight competitive environment.