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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

Egypt trends

Egypt oil and gas reserves

Egypt urges oil companies to restart projects Subscription

31 August 2014 | By

Post-revolutionary turmoil and unpaid bills are making firms wary of investing in energy assets

Middle East contracts awarded July 2014

Middle East contracts awarded: July 2014 Subscription

11 August 2014

Over $8bn of contracts were awarded in July in the Middle East

Nuclear turbine

The high costs of the nuclear option Subscription

7 August 2014 | By

The region’s major economies have turned to nuclear power to address future energy shortages, but there are many hurdles to be overcome if they are to realise their atomic energy ambitions

While Al-Sisi has pledged to make nuclear power a government priority, success with its programme and acquiring the required international approval will depend on the stabilisation of the political environment

Egypt's nuclear programme Subscription

7 August 2014 | By

The country’s nuclear programme has been given fresh impetus since the election of President Abdul Fattah al-Sisi in May

Egypt bank exposure to government debt

Egypt banks remain heavily exposed to sovereign debt Subscription

7 August 2014 | By

Lending to private sector remains low

Mostorod New Refinery Subscription

3 August 2014

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

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MEED comment

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

Solution: States must provide incentives to developers

Social housing crisis deepens Subscription

17 October 2013

Private sector engagement is vital for the region’s governments to meet their affordable housing targets

Suez

Security weighs on Suez traffic

5 September 2013 | By

Egypt shipping route a vital source of foreign exchange for Cairo, but instability is having an impact

More MEED commentary

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

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
8 Nile Corniche Tower Construction 1,100
Click through to the full data table on Egypt's biggest projects in construction
Click through to MEED's Q1 2014 Top 100 Projects report
Source: MEED Projects; Data compiled: April 2014; All projects are in execution

Project awards

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

Drake & Scull wins $599m contract on Egypt chemicals complex Subscription

15 May 2014 | By

Dubai group joins consortium building utilities and offsite utilities at cracker project

Tecnimont-Archirodon consortium selected for Egypt cracker complex Subscription

7 April 2014 | By

Carbon Holdings awards contract valued at $1.7bn-1.95bn to build utilities and offsite facilities

Companies

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.

ECG Engineering Consultants logo

ECG Engineering Consultants Subscription

Egypt’s ECG Engineering Consultants is an engineering and contracting company its services include architecture and landscaping; civil and structure, electromechanical; process and piping, and environmental engineering; and urban development

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

Suez Canal

New Suez Canal project could use foreign funding Subscription

2 September 2014 | By

Canal expansion intended to be financed by the Egyptian people

Refinery for petroleum products

UAE to provide Egypt with $9bn in oil products Subscription

1 September 2014 | By

Egyptian General Petroleum Company agrees a $9bn deal with Abu Dhabi National Oil Company

Nasdaq Dubai

Nasdaq Dubai to sign dual listing deal with Egypt clearing house Subscription

31 August 2014 | By

Agreement to be concluded in September

Oil rig

BG Egypt upgrades gas infrastructure Subscription

31 August 2014 | By

West Delta Deep Marine control system upgraded as wells are brought online

Egypt fuel subsidy cuts not enough to increase credit rating

Egypt’s unemployment rate forecast to decline Subscription

31 August 2014 | By

Proportion of unemployed could fall to 12.2 per cent next year

RWE Dea Drilling rig in Disouq Egyptian Nile Delta

RWE Dea starts Egypt gas production Subscription

27 August 2014 | By

Company sees oil and gas output lifted by more than 50 per cent as new facility comes online

Egypt parliament

Egyptian electricity officials sacked Subscription

26 August 2014 | By

All the eight sacked officials reportedly had links to the Muslim Brotherhood

Tripoli International airport following air strikes

US claims UAE and Egypt responsible for airstrikes on Libya Subscription

26 August 2014 | By

Anonymous US officials tell news agencies that the UAE and Egypt secretly bombed Libyan militias

Cairo

National Bank of Oman positive on Egypt Subscription

25 August 2014 | By

Egypt’s large-scale investment plans attract bank

Cairo metro

Bidders given new closing date for Cairo metro Line 3 tender Subscription

25 August 2014 | By

Seven groups prequalified for third phase of Cairo metro Line 3

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