Egypt overview

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Egypt cityscape at night

In Egypt we focus on:

  • Promoting a more inclusive economy for Egyptian businesses, women and youth, aiming to increase access to finance and entrepreneurship, access to skills development and to services and economic opportunities.
     
  • Accelerating Egypt’s Green Economy Transition by rising renewable energy capacity and a more diversified energy mix, improved quality, efficiency and environmental sustainability of infrastructure , as well as promoting energy and resource efficiency and climate resilience.
     
  • Enhancing Egypt’s competitiveness by supporting private sector growth and strengthening governance, through a more expansive, competitive and resilient private sector post-COVID-19, deepened and more diversified financial sector and products, in addition to increased private sector participation and improved governance and business environment.

Egypt became an EBRD recipient country on 30 October 2015

The EBRD's latest Egypt strategy was adopted on 9 February 2022

Egypt's policy response to the coronavirus crisis

The EBRD is monitoring Egypt's policy response to the coronavirus pandemic. Our biweekly publication identifies the major channels of disruption as well as selected impact and response indicators.

Learn more

Current EBRD forecast for Egypt’s Real GDP Growth in 2022: 3.1%

Current EBRD forecast for Egypt’s Real GDP Growth in 2023: 6.0%

Economic growth in the first half of fiscal year 2021/22 (July – December 2021) in Egypt averaged 9.0 per cent year-on-year, driven by improvements in tourism, manufacturing, construction, wholesale and retail trade, and agriculture. The recovery is expected to continue and growth is projected to reach 5.7 per cent GDP growth in fiscal year 2021/22 and 5.0 per cent in fiscal year 2022/23, although rising prices for wheat, food products and petroleum due to the war on Ukraine will have an impact.

Egypt is a net oil importer and one of the world’s biggest wheat importers, and it depends on imports for other food products as well, all of which are likely to face elevated prices in the short and medium term. On the upside, higher demand and prices for Egypt’s gas exports could sustain growth in the medium term, and the IMF-supported programme could support reform implementation and investor confidence. The latter could also help manage external imbalances, as might recent EGP devaluation.

Downside risks to economic performance include the volatility in global energy and food prices and the possibility that a faltering global recovery spills over into key sectors and supply chains. On a calendar year basis, growth is forecast to slow down to 3.1 per cent in 2022, from 7.2 per cent in 2021, before picking up to 6.0 per cent in 2023.

 

EGYPT IN THE EBRD'S 2021-22 TRANSITION REPORT

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