Gross Domestic Product
Gross domestic product at market price and current prices increased during the fourth quarter of the fiscal year 2020/2021, reaching LE 1.507 trillion, compared to LE 1.326 trillion during the same quarter of the previous fiscal year 2019/2020.
El-Said added that public investments constitute 78 percent of the total investments in the 2022-2023 plan.
The majority of the increase came from the following sectors: construction (37 percent), followed by manufacturing (18 percent), education and health (9.4 percent), other services (8.8 percent).
IMF clarified that this percentage came as the global recovery is now expected to be more gradual and domestic activity is projected to remain weak for longer.
The minister said internal trade is one of the biggest sectors in Egypt that provides many jobs but it still suffers from an inadequate infrastructure.
The returns of agricultural products exports increased by 20 percent in 2019 compared to 2009, and vegetable exports increased by 40 percent during this period.
Investment spending contributed by 40 percent to the GDP growth, adding that net change in exports represents 30 percent of GDP and 20 percent came from consumer expenditures.
The move by CBE and EBI towards more digitalized services is expected to boost the economy, and boost the financial status of women
The U.S. economy grew a bit faster than previously estimated in the second quarter, recording its quickest pace in more than two years.
Egypt is ranked among the world’s 21 most powerful economies in 2030, according to a report by PricewaterhouseCoopers.
U.S. stocks rose on Wednesday after stronger-than-expected U.S. economic growth outweighed concerns about escalating tensions between the US and N. Korea.
Minister of Planning Hala Al-Saeed said that Egypt's Gross Domestic Product (GDP) is projected to reach 4 percent for the fiscal year 2016/17.
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