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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 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

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

More MEED commentary

Egypt trends

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

Tackling the 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

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

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

Egypt trade

Instability slows export market for Egypt Subscription

1 July 2014

The domestic market is the prime focus of much of the state’s industry

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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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

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

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

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

Egypt will buy 65 per cent of its oil product imports from the UAE for one year

Egypt signs energy deal with UAE Subscription

18 September 2014 | By

Al-Sisi administration will buy 65 per cent of oil imports for the next year from UAE

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

Suez Canal key indicators 2000-2013

Egypt hits $8.5bn Suez Canal funding goal Subscription

17 September 2014 | By

Government raises funds needed to start expansion project

Petrochemicals

Tahrir complex will go ahead with or without EXIM Subscription

16 September 2014 | By

Carbon Holdings says its $5bn project in Egypt will continue if US EXIM Bank is unwound

Gas

Disouq development sees rapid progression Subscription

16 September 2014 | By

RWE says the project is more than a month ahead of schedule as Egyptian government pushes for gas

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

Egypt gas supply balance

BP and Egypt locked in talks over $10bn gas development Subscription

11 September 2014 | By

Egypt’s biggest oil and gas project remains in limbo 10 weeks after revival was announced

Pipeline construction

Al-Nobaria pipeline to be completed in two months Subscription

8 September 2014 | By

Al-Nobaria-Dashour pipeline to be completed within the next eight weeks

Exploratory drilling

TransGlobe Energy announces Egyptian oil discovery Subscription

7 September 2014 | By

Explorer encounters 42 feet of net oil pay at third exploratory well

Cairo

Egyptian capital suffers power outages Subscription

4 September 2014 | By

Power cuts led to suspension of services on Cairo Metro

Egyptian soldiers

Egyptian soldiers killed in Sinai attack Subscription

4 September 2014 | By

Roadside bomb kills 11 as regional violence increases

Suez Canal

Egypt’s Central Bank predicts huge turnout for Suez Canal project Subscription

3 September 2014 | By

Project involves 34-kilometre-long parallel channel

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

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