Egyptian Economy Posts Strongest Growth Since 2022

Egyptian Economy Posts Strongest Growth Since 2022

TLDR

Egypt's Ministry of Planning, Economic Development and International Cooperation said in a statement that the country's gross domestic product (GDP) grew by 4.3% in the second quarter of the year.

Egyptian Economy Grows at Quickest Quarterly Pace Since 2022

Egypt’s economy grew at its fastest quarterly pace in more than two years, buoyed by an unprecedented wave of foreign assistance and a greater focus on local industry and exports.

Egypt’s Economy Grows at Fastest Pace in Seven Quarters, Driven by Industry

Egypt’s economy recorded its fastest growth in seven quarters, expanding by 4.3% in the second quarter of the 2024-2025 fiscal year, driven by a surge in manufacturing and tourism, according to a statement from the Ministry of Planning and Economic Development on Wednesday. Despite a continued decline in Suez Canal activity, private sector investments showed improvement, contributing to the positive growth trend.

Egypt's GDP Grows 4.3% in Q2, Up From 2.3% Last Year

Egypt’s GDP growth rate climbed to 4.3% in the second quarter of the 2024/25 fiscal year, a significant rise from the 2.3% recorded in the same period the previous year, the planning ministry announced on Wednesday. Economic expansion was accompanied by an increase in total investments, though public investments accounted for less than 40% of the total. Key drivers of growth included non-oil manufacturing, which surged by 17.74%, and tourism, wh…