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Egypt

Profile

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Egypt
President
President Abdul Fattah al-Sisi

Egypt country datafile
Country overview
Government contacts

Country data

Iran 2008 2009 2010 2011 2012 2013f 2014f
Nominal GDP ($bn) 162.4 188.6 218.8 235.6 262.3 271.4 286.1
GDP per capita ($) 2,160 2,453 2,780 2,930 3.179 3.226 3.333
Real GDP growth (annual change, %) 7.2 4.7 5.1 1.8 2.2 2.1 2.3
Government revenue (% of GDP) 28 27.7 25.1 22.0 22.1 23.0 26.7
Government total expenditure (% of GDP) 36.0 34.6 33.4 31.8 32.7 37.1 37.8
Total government debt (gross, % of GDP) 70.2 73.0 73.2 76.6 78.9 89.2 91.3
Current account balance (% of GDP) 0.5 -2.3 -2.0 -2.6 -3.9 -2.1 -1.3
Value of oil imports 9.6 7 5.2 9.3 11.8 12.5 12.5
Value of oil exports 11.2 7.9 8 10.2 11.2 11.3 10.7
Inflation (%) 11.7 16.2 11.7 11.1 8.7 6.9 10.7
Click to see full economic data (2005 - 2018 forecast)
Source: International Monetary Fund, World Economic Outlook Database; Last updated: July 2014; *=Estimate

MEED comment

Suez Canal

Egypt seeks to revamp its reputation

16 October 2014 | By

Suez Canal projects are playing a symbolic role in kick-starting the Egyptian economy

Egypt needs to work with international oil companies to fast-track projects to develop gas fields

Cairo looks for escape route

18 September 2014 | By

Egypt is struggling to find a way to solve its escalating gas crisis

Gas

The battle to bring West Nile Delta online

11 September 2014 | By

Delays to getting Egypt’s biggest gas project producing will punish the Egyptian economy

Egypt

Egypt moves ahead with key power projects Subscription

3 July 2014 | Updated: 7 July 2014 | By

Energy projects top the agenda for Egypt’s new government with atomic power proposed as the main solution

Egypt

Journalists’ jailing fuel for instability Subscription

26 June 2014

The imprisonment of three Al-Jazeera journalists could turn support for Al-Sisi against him

Egypt Al-Sisi supporters

Al-Sisi will be under pressure Subscription

12 June 2014

Egypt’s newly elected president faces a tough year ahead as he juggles the needs of the people along with those of foreign investors

Reform: Whoever is elected must make tough choices

Stability falls to next leadership Egypt Subscription

24 April 2014 | By

Egypt’s new leadership must work out how to revitalise the economy while balancing political stability and electoral satisfaction

Ports: Tenders have been issued for ports projects

Signs of a turn in Egypt’s fortunes Subscription

3 April 2014 | By

While new infrastructure projects indicate an improvement in Egypt’s economy, stability is still a key issue

Egypt

Al-Sisi faced with daunting mission Subscription

27 March 2014 | By

If the ex-army chief is elected leader, he will have to ensure stability as well as a democratic government

Mubarak-style leadership?

Egypt's inevitable return to military rule Subscription

20 March 2014

Army chief Al-Sisi is expected to be elected president, in a sign that Egyptians are desperate for stability

Construction

Progress is key on housing deal Subscription

13 March 2014 | By

The low-cost housing contract the Egyptian government has signed with Arabtec promises much-needed homes and jobs for citizens

Ibrahim Mahlab: Poised to tackle Egypt’s problems

New leader in Egypt will take tough stance Subscription

27 February 2014

With Egypt’s economy continuing to struggle, the new government must live up to its promises

More MEED commentary

Egypt trends

National duty: Egyptians flocked to buy investment certificates for the Suez canal expansion

Suez projects to kick-start investment Subscription

16 October 2014 | By

Cairo’s plans to expand the Suez Canal are central to its economic vision for Egypt

Middle East contracts September 2014

Middle East contracts awarded: September 2014 Subscription

16 October 2014

Over $2bn of contracts awarded in September in the Middle East

Middle East contracts awarded August 2014

Middle East contracts awarded: August 2014 Subscription

14 October 2014

Over $3bn of contracts awarded in August in the Middle East

Cairo metro line 3

Delivering the Cairo metro Subscription

12 October 2014

Almost 30 years after it opened, the network is still being expanded

Echem spending

Petrochemicals projects struggle to find momentum Subscription

8 October 2014 | By

Political and economic instability coupled with a shortage of natural gas are causing setbacks for petrochemicals schemes in Egypt

Biggest projects in Egypt

Egypt puts infrastructure at the top of the agenda Subscription

2 October 2014 | By

Upgrading the country’s transport sector, developing the Suez Canal and providing affordable housing are priorities for Cairo

Illustration of Basil el-Baz

Basil el-Baz, chairman and CEO of Carbon Holdings Subscription

1 October 2014 | By

Basil el-Baz believes Egypt can compete with the US and Saudi Arabia when it comes to world-class petrochemicals facilities

Momentum grows for Suez projects Subscription

25 September 2014 | By David Butter

In the 150 years since construction started on the Suez Canal, Egypt has failed to make the most of the strategic asset. A series of new projects now getting under way aims to put that right

Maintaining peace: Security in Cairo has been increased, with tanks in the streets

Egypt tense ahead of elections Subscription

25 September 2014 | By

An uneasy atmosphere prevails across the country ahead of parliamentary polls set to take place before the end of the year.

Mostorod New Refinery Subscription

22 September 2014

Egyptian Refinery Company is building new hydrocracker and vacuum distillation units at the existing Mostorod refinery

Economic impact: Frequent power cuts are causing havoc for local businesses

Tackling Egypt's gas crisis Subscription

18 September 2014 | By

Cairo will have to tackle dysfunctional subsidies and resolve pricing disputes in order to shrink the shortage of gas

Promising development: Amman is now studying a proposal to issue its first Islamic bond

Wider Middle East ripe for Islamic finance Subscription

18 September 2014 | By Richard Nield

Sharia-compliant banking has yet to take off across most of the Levant and North Africa. But growing support from governments could soon lead to a boom in demand

Ahmed Nada, Middle East vice-president, First Solar

The Middle East’s solar potential Subscription

17 September 2014

Middle East vice-president Ahmed Nada on First Solar’s regional strategy

Filter Egypt analysis by sector

Special reports

Region: Political stability a must to be able to go nuclear

Nuclear: Backing key to plans

7 August 2014

The highly regulated nature and requirements of the nuclear power industry means foreign support is key to the region’s ambitions

Illustration

Rethinking Egypt's cities

4 May 2014

Egypt rises to the urban development challenge

Egypt's new cabinet

Egypt: New leadership and continuing challenges Subscription

20 March 2014

Egypt has yet to solve its leadership crisis, but Army chief Abdel Fattah al-Sisi’s potential presidential candidacy could hark back to a Mubarak style of rule

Egypt's president, Mohamed Mursi

Egypt: Frustrations rise over lack of progress Subscription

5 June 2013

Building a new order of governance in Egypt after 30 years of dictatorship was always going to be an immense challenge

Power

Power & Water: Egypt takes on supply crisis Subscription

17 January 2013

Power supply problems were recently illustrated by the government’s proposal to introduce new closing hours in the hospitality sector

Egypt

Egypt: Tackling the economic and political crises in Egypt Subscription

28 June 2012

Five hundred days after Hosni Mubarak lost power, Egypt has a democratically elected president

More Egypt special reports

Market presentations

Middle East Outlook 2013

A region in transition: Middle East outlook 2013 and beyond Subscription

18 August 2013

Insight and analysis on the economic and projects outlook for the Middle East

Project Finance

Webinar: Middle East project finance outlook Subscription

17 June 2013

Market constraints to continue, with deals flowing to most stable markets in the region

Mena renewables 2013

Webinar: MENA Renewable Energy Subscription

12 May 2013

In this presentation, MEED discusses the trends and prospects for renewable power in the region

After the Uprisings webinar

After the Uprisings: The outlook for business in the Middle East in 2013 and beyond Subscription

4 March 2013

A webinar on the region’s business environment, providing current data and exclusive expert analysis drawn from MEED’s team of experts

Abu Dhabi petrochemicals plant

Future developments in Middle East petrochemicals Subscription

26 March 2012

MEED’s exclusive subscriber-only online seminar on the petrochemicals sector in MENA outside of the GCC

More MEED webinars

Top 10 projects

Rank

Rank Project Name Sector Contract value ($m)
1 Uptown Cairo Construction 2,100
2 Mostorod New Refinery: Hydrocracker Oil 1,900
3 New Giza Construction 1,800
3 Damietta Fertiliser Plant Expansion Chemical 1,800
5 Tahrir Petrochemicals Complex: Offsites & Utilities Chemical 1,700
6 Mostorod New Refinery: Crude Distillation Unit Oil 1,600
7 Grand Heights Construction 1,170
8 Sharm el-Sheikh Scheme Construction 1,000
8 Degla Palms Construction 1,000
10 Ashgar City Construction 914
Click through to the full data table on Egypt's biggest projects in construction
Click through to MEED's Q2 2014 Top 100 Projects report
Source: MEED Projects; Data compiled: September 2014; All projects are in execution

Project awards

Suez Canal

Two teams win Suez Canal dredging Subscription

19 October 2014 | By

The work is divided into five lots

Egypt desert

Eni wins three Egyptian exploration licences Subscription

29 September 2014 | By

Blocks are located in Western Desert and offshore

Gas

Dana Gas awarded two Egyptian offshore concessions Subscription

29 September 2014 | By

UAE gas company is awarded two blocks in the Nile Delta

Egypt has awarded seven oil and gas exploration blocks in deals worth a total of $187m

Egypt awards seven oil and gas blocks Subscription

21 September 2014 | By

Exploration licences granted for sites in Gulf of Suez and Western Desert

Gulf of Suez

RWE Dea wins new concessions in Egypt Subscription

18 September 2014 | By

Egyptian General Petroleum Corporation awards germany’s RWE Dea two concessions in the Gulf of Suez

The agreements were signed on 10 September and require Apache to drill 11 wells

Apache to drill 11 wells in Egypt Subscription

14 September 2014 | By

Authorities push to increase activity in oil and gas sector

Suez Canal

Ascom wins excavation work on the Suez Canal project Subscription

20 August 2014 | By

Qalaa Holdings’ company is one of several selected firms

Hill appointed project manager for Cairo airport Terminal 2

Hill project manager for Cairo airport Terminal 2 Subscription

31 July 2014 | By

US-based firm wins $1.9m contract lasting for 15 months

Water supply

Acciona wins Egypt water supply contract Subscription

23 July 2014 | By

Spain’s Acciona Agua and local partner will operate and maintain water network for New Cairo area

Japanese firms win equipment deal for Egyptian power plant Subscription

30 June 2014 | By

Japanese group will provide steam turbines and generators for planned gas-fired plant

All companies

Misr Oil Processing Company Subscription

Misr Oil Processing Company of Egypt, established in 1998 is a petroleum company active in urea and ammonia production at the Damietta Fertiliser Plant Expansion project

Arab Organisation for Industrialisation Subscription

The Arab Organisation for Industrialisation (AOI) is an industrial organisation in Egypt, responsible for infrastructure, environmental protection, transportation projects and energy services.

See all company profiles

People

Amr Seif Subscription

8 October 2013

Amr Seif is head of asset management, EFG Hermes

Nabil Fahmy Subscription

16 July 2013 | By

Nabil Fahmy is foreign minister, Egypt

Ahmed Galal Subscription

16 July 2013 | By

Ahmed Galal is the new finance minister in Egypt’s interim government

Ziad Bahaa El-Din Subscription

15 July 2013 | By

Ziad Bahaa El-Din is Egypt’s new deputy prime minister for Egypt’s interim government

Younes Makhyoun Subscription

11 July 2013 | By

Younes Makhyoun is chairman of the Salafist Al-Nour party

Mohamed El-Baradei Subscription

11 July 2013 | By

Mohamed El-Baradei is interim vice-president for foreign relations in Egypt

More Egypt biographies

Latest Egypt news

The developers of Israel’s offshore Tamar gas field have signed a memorandum of understanding agreeing to sell Egypt’s Dolphinus Holdings as much as 2.5 billion cubic metres of gas

Agreement signed on Israeli gas exports to Egypt Subscription

20 October 2014 | By

Tamar field partners agree to sell at least 2.5 billion cubic metres of gas to Egypt over three years

Suez

Egypt targets 6 per cent growth in new development plan Subscription

19 October 2014 | By

Finance ministry calls for more private sector investment

Egypt housing deal is close

Arabtec says final Egypt housing deal is close Subscription

19 October 2014 | By

First phase involves development of 120,000 units in three cities

Suez Canal

Two teams win Suez Canal dredging Subscription

19 October 2014 | By

The work is divided into five lots

Power plant

Egypt invites bids for power plant equipment contract Subscription

14 October 2014 | By

Contract involves providing heat recovery generators for Al-Shabab power plant conversion project

Egypt receives bids for Suez Canal expansion

Egypt receives bids for Suez Canal expansion Subscription

12 October 2014 | By

Contract covers dredging part of project

Rig

Amak wins investment to fund Egypt expansion Subscription

8 October 2014 | By

Gulf Capital provides $25m to oil services firm

Repayment fails to kick-start Egypt gas project

Repayment fails to kick-start Egypt gas project Subscription

7 October 2014 | By

BG Group remains in talks with Cairo over $1.5bn West Delta Deep Marine field development

Cairo

Egypt to raise further bank funding to repay oil debt Subscription

6 October 2014 | By

Further loans expected to be raised before year-end

The Egyptian government has paid $1.5bn in owed money to foreign oil and gas companies, cutting its total debt to $4.9bn

Egypt cuts energy debts to $4.9bn Subscription

6 October 2014 | By

Government pays $1.5bn to foreign oil and gas companies

Petchems

Egypt to invest $14bn in refining and petrochemicals Subscription

30 September 2014 | By

Oil Minister says plan includes $1.9bn investment in ETHYDCO

Egypt desert

Eni wins three Egyptian exploration licences Subscription

29 September 2014 | By

Blocks are located in Western Desert and offshore

Gas

Dana Gas awarded two Egyptian offshore concessions Subscription

29 September 2014 | By

UAE gas company is awarded two blocks in the Nile Delta

Filter Egypt news by sector

MEED events

iie

Invest in Egypt 2014

Profiling investment opportunities in the infrastructure, real estate, housing, tourism, power, petrochemicals, financial services & retail sectors. www.investegyptforum.com

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