The COVID-19 crisis may lead to a 1.1 percent decline in Egypt’s GDP during the 4th quarter (April to June) of the 2019/20 fiscal year, compared to the same quarter in 2018/19. The services sector is hit hardest, falling by 10.9 percent, followed by industry at -8.3 percent. Agriculture is the most resilient sector.
What are the challenges facing the economy?
Explore economic issues facing the world economy, as well as regions and countries, including the pandemic, prospects for growth, inflation, energy and the environment, inequality, labor issues, emerging markets, and the impact of new technologies, with research by the world’s leading experts at the Peterson Institute …
How is Covid affecting the economy?
Economic Impact of COVID-19 Pandemic The COVID-19 pandemic has caused a devastating loss of life but it has also devastated the nation’s economy. Declines in the employment-to-population ratio that exceeded predictions indicate there was additional employment loss in the country due to the pandemic.
What are the challenges for Egypt’s economic reforms?
Egypt is facing a combination of security and economic risks. Egypt’s economy is battling a number of structural problems, mainly low growth rates and high deficit. The country’s external debt reached $60 billion in the first quarter of 2016/2017. As part of the IMF bailout plan, the country agreed to implement a series of sensitive reforms.
What are the current economic conditions in Egypt?
Moody’s latest sovereign outlook for the Levant and North Africa (published in January 2017) gave Egypt the highest economic strength assessment in the region while highlighting the challenges associated with domestic security conditions.
How much money does the government of Egypt spend?
Today, the figure is less than half that: some $15.6 billion as of this July. The trendline is unmistakable. Simply put, Egypt’s government is eating itself in order to stay in business. These dire economic conditions have been compounded by equally grim societal ones.
What was the external debt of Egypt in 2016?
Egypt’s economy is battling a number of structural problems, mainly low growth rates and high deficit. The country’s external debt reached $60 billion in the first quarter of 2016/2017.
