Egypt Economic Update, Fall 2010

Egypt's growth accelerated in the second half of FY10. Real Gross Domestic Product (GDP) growth in FY10 reached 5.8 percent, up from 4.4 percent in FY09 and 4.8 percent in FY10, taking up overall GDP growth to an average of 5.3 percent for the full FY10. Egypt's macroeconomic outlook is stable. Assuming that domestic demand holds up, and Egyptian exports continue their observed recent trend, we expect that the Egyptian economy grows in the range of 6.0 to 6.2 percent in FY11. This is underpinned by strong commitment to maintain structural reforms momentum, and a relatively stable global economy. However, unemployment will remain a challenge as growth as high as 6 percent will barely absorb the increasing number of new entrants to the labor market. Unemployment will continue to be an overriding concern and will gradually fall to around 8.7 percent in FY11. Finally, inflationary pressures are expected to rise, as global prices are likely to filter to domestic consumer prices, domestic demand will gain more solid ground, and gradual adjustment of energy prices will be implemented. Interest rates are not thus expected to rise, yet real interest rates will remain low or negative. This outlook is consistent with that of standard and poor's ratings services which affirmed in 2010.

Bibliographic Details

Main Author:	World Bank
Format:	Report biblioteca
Language:	English en_US
Published:	Washington, DC 2010
Subjects:	AGRICULTURE, ANNUAL GROWTH, BALANCE OF PAYMENTS, BANK BRANCHES, BANK CREDIT, BANKING SECTOR, BANKING SYSTEM, BASIC NEEDS, BASIS POINTS, BENEFICIARIES, BIDS, BILL, BLACK MARKET, BOND, BOND ISSUANCE, BORROWING, BROAD MONEY, BUSINESS ACTIVITY, CAPITAL ACCOUNT, CAPITAL FLOWS, CAPITAL FORMATION, CENTRAL BANK, COMPETITIVENESS, CONSUMERS, CONSUMPTION EXPENDITURE, CORE INFLATION, CORPORATE EXTERNAL DEBT, CORPORATE TAX, CORRUPTION, COUPON, CREDIT GROWTH, CREDIT RATINGS, CURRENT ACCOUNT, CURRENT ACCOUNT BALANCE, CURRENT ACCOUNT DEFICIT, CUSTOMS DUTIES, DEBT CRISIS, DEBT OBLIGATIONS, DEBT OUTSTANDING, DEBT RELIEF, DEBT SERVICE, DEBTS, DEPOSIT, DEPOSIT INTEREST, DEPOSIT INTEREST RATE, DEPOSITS, DEVELOPMENT ECONOMICS, DIRECT INVESTMENT, DISBURSEMENT, DISBURSEMENTS, DISCOUNT RATE, DOMESTIC CONSUMPTION, DOMESTIC CREDIT, DOMESTIC CREDIT GROWTH, DOMESTIC DEBT, DOMESTIC DEMAND, DOMESTIC ECONOMY, EARNINGS, ECONOMIC CONDITIONS, ECONOMIC DEVELOPMENTS, ECONOMIC GROWTH, ECONOMIC TRENDS, EMERGING MARKETS, ENROLLMENT, EQUITIES, EURO ZONE, EXCHANGE RATE, EXCHANGE RATE POLICIES, EXPENDITURE, EXPENDITURES, EXPORT SUBSIDY, EXPORTS, EXPOSURE, EXTERNAL BALANCE, EXTERNAL BALANCES, EXTERNAL DEBT, EXTERNAL DEMAND, EXTERNAL POSITION, FAMILIES, FINANCIAL ACCOUNT, FINANCIAL CRISIS, FINANCIAL MARKET, FINANCIAL SECTOR, FISCAL BALANCE, FISCAL DEFICIT, FOOD PRICE, FOOD PRICES, FOREIGN ASSETS, FOREIGN COMPANIES, FOREIGN CURRENCY, FOREIGN DEBT, FOREIGN DIRECT INVESTMENT, FOREIGN EXCHANGE, FOREIGN EXCHANGE POLICY, GDP PER CAPITA, GENDER, GLOBAL ECONOMY, GLOBAL LIQUIDITY, GLOBAL TRADE, GOLD, GOVERNANCE INDICATORS, GOVERNMENT ASSETS, GOVERNMENT DEBT, GOVERNMENT FINANCE, GOVERNMENT SPENDING, GROSS CAPITAL FORMATION, GROWTH RATE, GROWTH RATES, HIGH INTEREST RATE, HOUSEHOLDS, IMMUNIZATION, IMPORT, IMPORTS, INCOME, INCOME TAXES, INFLATION, INFLATION INDEX, INFLATION RATE, INFLATIONARY IMPACT, INFLATIONARY PRESSURE, INFLATIONARY PRESSURES, INFRASTRUCTURE PROJECTS, INSURANCE, INTEREST PAYMENTS, INTEREST RATE, INTEREST RATE DIFFERENTIALS, INTEREST RATES, INTEREST SUBSIDIES, INTERNATIONAL FINANCIAL INSTITUTIONS, INTERNATIONAL RESERVES, INTERNATIONAL STANDARD, INVESTMENT PROJECTS, INVESTMENT SPENDING, LABOR FORCE, LABOR MARKET, LENDING INTEREST RATE, LENDING POLICY, LIFE EXPECTANCY, LIQUIDITY, LOAN, LOAN-TO-DEPOSIT RATIO, LOC, LOCAL CURRENCY, M2, MACROECONOMIC INSTABILITY, MARKET CAPITALIZATION, MARKET PRICE, MARKET VOLATILITY, MATURITIES, MATURITY, MOBILE PHONE, MONETARY POLICY, MONEY SUPPLY, NATIONAL BANK, OIL EXPORTS, OIL PRICES, PENSION, PENSION FUNDS, PENSION LAW, PENSION SYSTEM, PENSIONS, PERSONAL COMPUTERS, POLITICAL STABILITY, POPULATION GROWTH, PORTFOLIO, PORTFOLIO INFLOWS, PORTFOLIO INVESTMENTS, POWER OUTAGES, PREPAYMENTS, PRICE INCREASES, PRICE INDEX, PRINCIPAL REPAYMENTS, PRIVATE PLACEMENT, PRIVATE SECTOR DEBT, PRIVATE SECTOR DEVELOPMENT, PRIVATIZATION, PROFITABILITY, PROPERTY TAX, PROPERTY TAXES, PUBLIC BANKS, PUBLIC COMPANIES, PUBLIC DEBT, PUBLIC FINANCE, PUBLIC FINANCES, PUBLIC INVESTMENT, PUBLIC-PRIVATE PARTNERSHIP, QUOTAS, REAL GDP, REAL INTEREST, REAL INTEREST RATES, RECEIPTS, RECESSION, REMITTANCES, RESERVE, RESERVES, RETURN, RULE OF LAW, SAVINGS, SETTLEMENT, SHORT-TERM DEBT, SHORTFALL, SKILLED WORKERS, SLOWDOWN, SOCIAL WELFARE, SOVEREIGN DEBT, STABLE LOCAL CURRENCY, STOCK EXCHANGE, STOCK MARKET, STOCK MARKET CAPITALIZATION, STRUCTURAL REFORMS, SURPLUS, SURPLUSES, T-BILLS, T-BONDS, TAX, TAX RATE, TAX RATES, TAX REVENUES, TOTAL DEBT, TOTAL DEPOSITS, TOTAL EXTERNAL DEBT, TRADE BALANCE, TRADE DEFICIT, TRADING, TRANCHE, TRANSPORTATION COSTS, TUITION, UNDERWRITER, UNEMPLOYMENT, UNEMPLOYMENT RATE, URBAN AREAS, VALUE ADDED, VARIABLE RATE,
Online Access:	http://documents.worldbank.org/curated/en/366371468022762909/Egypt-economic-update-Fall-2010 https://hdl.handle.net/10986/27775
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