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Economic rebound threatened by ongoing political instability
- The economy is forecast to grow 2.3% in 2012 - given that the political situation does not deteriorate further. The budget deficit remains too high, as the government cannot reduce subsidies without risking more social unrest.
- The risk of a balance of payment crisis has increased due to dwindling international reserves. But will IMF support alone be sufficient to counter that threat?
- Regardless of who forms the next government after the parliamentary and presidential elections, any future administration has to introduce more reforms to raise living standards and generate jobs in order to maintain civil peace in the long-term.
Real GDP growth (%)
Source: EIU / IMF
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General Information
Capital - Cairo
Government type - Republic
Currency - Egyptian pound (EGP)
Population - 79.9 million
Status - Lower middle income country
(GDP/capita: US-$ 2,683 in 2011)
Main import sources (2010)
- USA - 9.4%
- China - 9.2%
- Germany - 7.6%
- Italy - 5.6%
- Saudi Arabia - 4.0%
Main export markets (2010)
- Italy - 8.3%
- Spain - 6.2%
- USA - 5.9%
- Saudi Arabia - 5.9%
- India - 4.7%
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Date Feb
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Egypt
