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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

Egypt's President Abdul Fattah al-Sisi

Egypt’s need for stability could come at a high cost

22 December 2014 | By

Al-Sisi’s hardline approach could store up future problems

Protester are angered at the clearing of former leader Hosni Mubarak of his part in the killing of protesters during the 2011 uprising

Al-Sisi’s iron fist may not be enough

30 November 2014 | By

Thousands turn out to protest against Mubarak decision

Egypt renewables

Egypt commits to renewables

27 November 2014 | By

Cairo now faces the challenges of implementing and financing the projects

Suez Canal

Egypt seeks to revamp its reputation Subscription

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 Subscription

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 Subscription

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

More MEED commentary

Egypt trends

Transition: Al-Sisi now faces the challenge of building up the institutional legitimacy of his rule

Projecting stability in Egypt Subscription

23 December 2014 | By David Butter

Cairo is sending out the message that Egypt is stable and ripe for new investment, but how secure is a state that relies so heavily on repression?

Egypt's economic profile

Resetting Egypt's clock Subscription

23 December 2014 | By

Cairo is promising to revitalise Egypt’s economy over the coming five years. Hanan Salem, first deputy minister for economic and financial policies, explains how

Egypt government budget deficit and GDP growth

Egypt energy outlook remains hazy Subscription

23 December 2014 | By

Optimism is growing over Cairo’s plans to increase gas supply, but it remains to be seen whether the government and international oil firms can come through on their promises

Egypt foreign direct investment and borrowing

Cairo attempts to woo investors Subscription

23 December 2014 | By

Egypt must convince international investors that the country is on the road to recovery if it is to attract funding for business expansion and planned infrastructure projects

Middle East contracts October 2014

Middle East contracts awarded: October 2014 Subscription

1 December 2014

Over $13bn of contracts awarded in October in the Middle East

Renewables just one element of Egypt's strategy

Renewables just one element of Egypt's strategy Subscription

1 December 2014 | By

Cairo recently launched 4,300MW direct proposal renewable energy programme

Egypt electricity supply and power and water projects

Cairo cuts costly electricity subsidies Subscription

2 November 2014 | By Richard Nield

The Egyptian government hopes subsidy reform and its plans for the country’s beleaguered power sector will attract private investors

Power and water

Region’s utility sector races to meet demand Subscription

30 October 2014 | By

With rapid population and industrial growth, the Middle East and North Africa is a key market for companies involved in the power and water sectors

Egypt oil and gas balance

Israeli gas exports to Egypt look increasingly likely Subscription

23 October 2014 | By

Cairo’s failure to ease shortage makes Israeli gas an attractive option

Egypt has finally taken action on reducing electricity price subsidies

Egypt takes the plunge Subscription

22 October 2014 | By Bernadette Ballantyne

As Cairo finally takes action on reducing electricity subsidies, other regional states are feeling the pressure to step up their reform efforts as consumption continues to rise

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

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Special reports

Egypt's President Abdul Fattah al-Sisi

Egypt: Major challenges ahead for Al-Sisi

23 December 2014

Egypt’s president needs to appease local and international sentiments to ensure the stability his government is projecting

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

Nuclear: Backing key to plans Subscription

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

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 Q3 2014 Top 100 Projects report
Source: MEED Projects; Data compiled: November 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

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

Kosmos starts drilling in Western Sahara

Kosmos starts drilling in Western Sahara Subscription

23 December 2014 | By

First well in disputed territory is expected to take between 60 and 90 days to drill

Qatar and Egypt step closer to reconciliation

Qatar and Egypt step closer to reconciliation Subscription

21 December 2014 | By

It is hoped Saudi-arranged meeting will mend ties

Gas drilling

Egypt fracking pilot to take two to three years Subscription

21 December 2014 | By

Shell and Apache to test the future viability of shale and tight gas reserves

Road

Cairo to Cape Town road work awarded Subscription

18 December 2014 | By

Arab Contractors take on part of ambitious African road project that plans to connect Egypt and South Africa

gas flare

Egypt signs landmark gas contract Subscription

18 December 2014 | By

Apache and Shell set to invest $30-40m in Egyptian fracking project

Oil discovery

Kuwait Energy Company strikes oil in Egypt Subscription

18 December 2014 | By

Independent explorer says its Shahd-4 well has been successful

CI Capital, one of the largest private investment banks in Egypt, is aiming to reach first close on a $300m joint private equity fund

CI Capital to close private equity fund Subscription

18 December 2014 | By

Egyptian private investment bank targeting consumer industries

Abraaj partially divests stake in Integrated Diagnostics Holdings

Abraaj reduces stake in Integrated Diagnostics Subscription

17 December 2014 | By

Stake sold to emerging market investor Actis

Cairo Metro

Egypt signs financing deal for Cairo metro Subscription

16 December 2014 | By

France to provide long-term loans for Cairo trains

Construction projects

Fitch sees the GCC playing a bigger role in Egypt projects market Subscription

16 December 2014 | By

UAE and Saudi companies expected to be heavily involved in new infrastructure schemes

Egypt issues equipment tenders for power plants

Egypt issues equipment tenders for power plants Subscription

16 December 2014 | By

Bids due by 22 January on mechanical and pipe installation contracts

Egypt historic gas balance

Talks on Egypt’s North Alexandria concession 'moving forward' Subscription

14 December 2014 | By

BP says a deal to restart the $10bn gas field development project is not yet finalised

Citizens with bank accounts

Low-income Egyptians face 'massive' obstacles to finance access Subscription

11 December 2014 | By

Government needs to engage with unbanked population

Filter Egypt news by sector

MEED events

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Invest in Egypt 2014

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

More MEED events

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