Egypt overview

Egypt cityscape at night

In Egypt we focus on:

  • Supporting the competitiveness of Egypt’s private sector through stronger value chains, improved access to access to finance for small and medium-sized enterprises (SMEs), better economic integration and increased opportunities for women and young people.
     
  • Improving the quality and sustainability of Egypt’s public utilities through private sector participation. Egypt suffers from a low quality of service provision and ageing infrastructure. The EBRD will help develop a more efficient power sector and promote gas market reforms contributing to the country’s energy security. The EBRD will also finance the modernisation of municipal infrastructure and promote the participation of the private sector within it.
     
  • Egypt’s Green Economy Transition. The EBRD will support Egypt’s efforts in diversifying its energy mix by financing renewable energy projects and energy efficiency investments across sectors, including energy efficiency credit lines for SMEs. The Bank will also seek to improve water efficiency through modernising water supply and waste water management. These investments will be complemented by policy dialogue.
     
  • Strengthening governance. In close cooperation with international financial institutions, the EBRD will contribute to improving governance in the public and private sector. The Bank will also provide capacity building for relevant institutions to improve competition, promote investment and policy delivery

Egypt became an EBRD recipient country on 30 October 2015

The EBRD's latest Egypt strategy was adopted on 8 February 2017

Current EBRD forecast for Egypt’s Real GDP Growth in 2017: 4.1%

Current EBRD forecast for Egypt’s Real GDP Growth in 2018: 4.5%

In Egypt, GDP growth remained at 4.1 per cent in the fiscal year 2016/17, similar to previous year, amid rising inflation which exceeded 23 per cent on average. In the first three quarters of fiscal year FY2016/17, there was a rebalancing in the drivers of growth towards exports and investment, while the contribution of private consumption decreased. Tourist arrivals rebounded strongly in the first seven months of 2017, growing by 52 per cent, compared to a 42-per-cent decline in 2016. Suez Canal receipts have been stagnant since 2012, following a decade of 10 per cent growth on average.

Since 2011, growth in Suez Canal receipts has been muted at 1 per cent on average, the same rate seen in the first 8 months of 2017. Oil exports rebounded in the second half of FY2016/2017, following three years of contraction. A modest pick-up in growth to 4.5 per cent is expected in FY2017/18 supported by strong reform implementation, foreign investment, exports growth, and increased competitiveness supported by the exchange rate depreciation.

Egypt in the EBRD’s 2016-17 Transition Report