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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

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

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

Rigs operating in the Middle East and North Africa, June 2014

Middle East rig count on the rise Subscription

31 July 2014 | By

The region is now the world’s second-biggest market for operating oil rigs

Egypt fiscal balance and government debt

Al-Sisi kicks off austerity drive Subscription

10 July 2014 | By

Protests over fuel subsidy cuts mean the new president faces a difficult balancing act in shrinking Egypt’s fiscal deficit and maintaining his popularity

Nuclear power

Egypt makes another tilt at nuclear power Subscription

30 June 2014 | By David Butter

President Abdul-Fattah al-Sisi named the El-Dabaa nuclear power among his priority national projects in his first speech following his inauguration. The challenge is making it a reality

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MEED comment

Egypt

Egypt moves ahead with key power projects

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

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

Al-Sisi: Promises a return to democracy for Egypt

The next steps for democracy in Egypt

22 August 2013 | By

Egypt must work towards a quick return to an elected, democratic government to ensure long-term economic and social stability

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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

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

Oil rig

Sea Dragon Energy announces Egyptian farm-out Subscription

21 August 2014 | By

Independent operator IPR Energy Resources grabs a stake in Sea Dragon’s South Disouq concession

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

Fuel oil refinery

No solution in sight for Egypt hydrocracker Subscription

20 August 2014 | By

Asyut Hydrogen Cracking Facility remains on hold due to contuned financing woes

An employee of US oil company Apache was shot and killed while at work in Egypt on 6 August

US oil worker killed in Egypt Subscription

11 August 2014 | By

American shot and killed in apparent carjacking

Gas flare

Dana Gas boosts profit on start-up of Egyptian fields Subscription

6 August 2014 | By

Company says new contracts on UAE’s Zora gas field development are imminent

Market reaction in Egypt to plans for a new Suez Canal development has been upbeat

Upbeat market reaction to Suez Canal project Subscription

6 August 2014 | By

Egypt president launches plans to build new waterway

LNG ship

BG expects no LNG cargos from Egypt for the rest of 2014 Subscription

31 July 2014 | By

Natural gas shortage sees BG Group’s Egypt hydrocarbon production drop by 52 per cent

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

Cairo streets

World Bank approves $500m gas loan to Cairo Subscription

25 July 2014 | By

Project aims to connect 1.5 million Egyptian households to national gas grid

Egypt natural gas ouput and population

BP denies deal to restart $10bn Egypt gas project Subscription

25 July 2014 | By

UK energy company says the West Nile Delta development remains on hold

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