{"id":600500,"date":"2019-01-31T04:03:39","date_gmt":"2019-01-31T04:03:39","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/31\/egypts-gdp-growth-in-2q2018-19-reaches-5-5\/"},"modified":"2019-01-31T04:03:39","modified_gmt":"2019-01-31T04:03:39","slug":"egypts-gdp-growth-in-2q2018-19-reaches-5-5","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/31\/egypts-gdp-growth-in-2q2018-19-reaches-5-5\/","title":{"rendered":"Egypt\u2019s GDP growth in 2Q2018-19 reaches 5.5%"},"content":{"rendered":"

<\/a> Egypt\u2019s GDP growth is still accelerating:<\/b> Economic growth accelerated to 5.5% in 2Q2018-19, up from 5.3% in 1Q2018-19 and 5.3% in 2Q2017-18, Planning Minister Hala El Said told cabinet yesterday, according to a government statement<\/a>. GDP growth in the first half of the 2018-19 fiscal year reached 5.4%, she added. The government sees the economy growing at a 5.6% pace in 2H2018-19 with an overall GDP growth rate of 5.8% anticipated for the full fiscal year, up from 5.3% in FY2017-18, she said, according to the statement.<\/p>\n

Growth is being driven by energy, mining and construction:<\/b> Energy and mining (labeled together as \u201cextraction\u201d) contributed 25% of total growth in 2Q2018-19, followed by construction (11%), wholesale and retail (11%), telecoms (8%), and hotels and restaurants (7%).<\/p>\n

Inflation in 1H2018-19 averaged 14.4%<\/b>, down from an average of 30.2% during the same period last year, El Said stated.<\/p>\n

Egypt\u2019s budget deficit shrank to 2.3% in 1Q2018-19<\/b>, down from 2.7% in 1Q2017-18, she noted. Earlier this month<\/a>, Ittihadiya revealed that Egypt\u2019s budget deficit shrank to 3.6% of GDP in 1H2018-19, down from 4.2% the previous year. Finance Minister Mohamed Maait noted at the meeting that the drop in the budget deficit for the period came on the back of a 28% y-o-y growth in state revenues in the first half of the fiscal year, and a 22.2% y-o-y growth in tax revenues. He also said Egypt achieved a primary surplus of EGP 21 bn in 1H2018-19.<\/p>\n","protected":false},"excerpt":{"rendered":"

Egypt\u2019s GDP growth is still accelerating: Economic growth accelerated to 5.5% in 2Q2018-19, up from 5.3% in 1Q2018-19 and 5.3% in 2Q2017-18, Planning Minister Hala El Said told cabinet yesterday, according to a government statement. GDP growth in the first half of the 2018-19 fiscal year reached 5.4%, she added. The government sees the economy […]<\/p>\n","protected":false},"author":1,"featured_media":600501,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[864,72,348,727,182,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-600500","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-budget-deficit","tag-enterpriseam","tag-gdp","tag-hala-el-said","tag-inflation","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"ae2dff93-a063-4434-a01c-d54af9e6c19d","is_powered_by":true,"section_story_id":"fe5add70-3ac0-4dbc-a32e-edd3e7180649","story_type":"1","photo_url":"https:\/\/ent.news\/2020\/12\/58.jpg","photo_position":"above","related_issue":[600491],"teaser":"","voice_url":""},"yoast_head":"\nEgypt\u2019s GDP growth in 2Q2018-19 reaches 5.5% - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2019\/01\/31\/egypts-gdp-growth-in-2q2018-19-reaches-5-5\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt\u2019s GDP growth in 2Q2018-19 reaches 5.5%\" \/>\n<meta property=\"og:description\" content=\"Egypt\u2019s GDP growth is still accelerating: Economic growth accelerated to 5.5% in 2Q2018-19, up from 5.3% in 1Q2018-19 and 5.3% in 2Q2017-18, Planning Minister Hala El Said told cabinet yesterday, according to a government statement. GDP growth in the first half of the 2018-19 fiscal year reached 5.4%, she added. The government sees the economy […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2019\/01\/31\/egypts-gdp-growth-in-2q2018-19-reaches-5-5\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2019-01-31T04:03:39+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/58.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/01\/31\/egypts-gdp-growth-in-2q2018-19-reaches-5-5\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/01\/31\/egypts-gdp-growth-in-2q2018-19-reaches-5-5\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Egypt\u2019s GDP growth in 2Q2018-19 reaches 5.5%\",\"datePublished\":\"2019-01-31T04:03:39+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/01\/31\/egypts-gdp-growth-in-2q2018-19-reaches-5-5\/\"},\"wordCount\":243,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/01\/31\/egypts-gdp-growth-in-2q2018-19-reaches-5-5\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/58.jpg?fit=%2C&ssl=1\",\"keywords\":[\"budget deficit\",\"EnterpriseAM\",\"GDP\",\"Hala El Said\",\"inflation\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/01\/31\/egypts-gdp-growth-in-2q2018-19-reaches-5-5\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2019\/01\/31\/egypts-gdp-growth-in-2q2018-19-reaches-5-5\/\",\"name\":\"Egypt\u2019s GDP growth in 2Q2018-19 reaches 5.5% - 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GDP growth in the first half of the 2018-19 fiscal year reached 5.4%, she added. The government anticipates a GDP growth rate of\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/12\/58.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":621449,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/08\/preliminary-govt-figures-show-egypts-gdp-growth-at-5-3-in-1q18-19\/","url_meta":{"origin":600500,"position":1},"title":"Preliminary gov\u2019t figures show Egypt\u2019s GDP growth at 5.3% in 1Q18-19","author":"enterpriseam admin","date":"8 November 2018","format":false,"excerpt":"Economy grew 5.3% in 1Q18-19, according to preliminary gov\u2019t figures: Egypt\u2019s GDP grew 5.3% y-o-y during the first quarter of FY2018-19, according to preliminary figures made public yesterday by Planning Minister Hala El Said told cabinet. Growth was driven by the gas, ICT, and construction sectors, as well as Suez\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":594406,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/29\/egypts-gdp-grows-to-5-6-in-1q2019-2020\/","url_meta":{"origin":600500,"position":2},"title":"Egypt\u2019s GDP grows to 5.6% in 1Q2019-2020","author":"enterpriseam admin","date":"29 October 2019","format":false,"excerpt":"Speaking of growth, Egypt\u2019s GDP grew at a 5.6% clip in 1Q2019-2020, up from 5.3% during the same quarter last fiscal year, Planning Minister Hala El Said told Sky News Arabia (watch, runtime: 01:37). El Said did not provide any further economic indicators for the quarter. The government is targeting\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":597714,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/02\/govt-revises-downwards-fy2018-19-growth-forecast-to-5-6\/","url_meta":{"origin":600500,"position":3},"title":"Gov\u2019t revises downwards FY2018-19 growth forecast to 5.6%","author":"enterpriseam admin","date":"2 May 2019","format":false,"excerpt":"EXCLUSIVE- FinMin revises FY2018-2019 growth forecast to 5.6%: The Finance Ministry has revised downwards its growth forecast for FY2018-2019 to 5.6%, down from 5.8% previously, according to an official document seen by Enterprise. The budget deficit declined during the first nine months of the fiscal year to 5.3%, compared to\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/10\/276.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":569315,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/20\/egypts-gdp-growth-reached-5-6-in-1h2019-2020\/","url_meta":{"origin":600500,"position":4},"title":"Egypt's GDP growth reached 5.6% in 1H2019-2020","author":"enterpriseam admin","date":"20 February 2020","format":false,"excerpt":"Egypt's economy grew at a 5.6% clip in 1H2019-2020, Planning Minister Hala El Saidtold cabinet yesterday. Retail was the primary driver of growth during the first six months of the fiscal year, accounting for 14.7% of the period\u2019s economic expansion, followed by the industrial sector (12.6%) and agriculture (12%). The\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/2\/262.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":598693,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/02\/egypts-budget-deficit-hits-5-3-of-gdp-in-9m2018-2019\/","url_meta":{"origin":600500,"position":5},"title":"Egypt\u2019s budget deficit hits 5.3% of GDP in 9M2018-2019","author":"enterpriseam admin","date":"2 June 2019","format":false,"excerpt":"Egypt\u2019s budget deficit fell to 5.3% of GDP in 9M2018-2019, compared to 6.2% in the same period the previous year, the Finance Ministry said in its April monthly bulletin (pdf). The primary surplus came at 0.7% of GDP during the first nine months of the fiscal year. The numbers came\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/600500","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=600500"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/600500\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/600491"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/600501"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=600500"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=600500"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=600500"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=600500"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=600500"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}