03 Jun 2021

The Minister of Planning and Economic Development announced that Egypt’s GDP grew by 2.9% in 3Q20/21. As for 9M20/21, GDP growth was 1.9%. The government expects 4Q20/21 growth to be 5.2-5.5%.

Despite the negative effects of Covid on the economy, a number of sectors showed resilience and continued to grow, such as health, communications, agriculture, construction, education, transportation, and storage. The sectors that have been adversely affected by Covid are mainly tourism and manufacturing, although they are showing signs of improvement. Revenues from the Suez Canal have also suffered to the global economic slowdown.

Notably, the communications sector’s contribution to GDP grew by 16.2% to reach a 3.2% share. The real estate, trade, agriculture, and industrial sectors represented 52% of GDP. (Source: Zawya (English), al-Ahram (English), al-Maal, Mubasher, Arab Finance, al-Shurouk)