{"id":627241,"date":"2018-07-26T04:21:13","date_gmt":"2018-07-26T04:21:13","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/07\/26\/preliminary-figures-show-egypts-gdp-growth-rose-to-5-3-in-fy2017-18\/"},"modified":"2018-07-26T04:21:13","modified_gmt":"2018-07-26T04:21:13","slug":"preliminary-figures-show-egypts-gdp-growth-rose-to-5-3-in-fy2017-18","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/07\/26\/preliminary-figures-show-egypts-gdp-growth-rose-to-5-3-in-fy2017-18\/","title":{"rendered":"Preliminary figures show Egypt\u2019s GDP growth rose to 5.3% in FY2017-18"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>Preliminary gov\u2019t figures show Egypt\u2019s GDP growth rose to 5.3% in FY2017-18: <\/strong>Egypt\u2019s GDP grew to 5.3% in FY2017-18, its highest rate in a decade, according to preliminary figures that Planning Minister Hala El Saeed announced yesterday during the Madbouly Cabinet\u2019s weekly meeting. GDP grew to 5.4% in the third and fourth quarters of the fiscal year that ended on 30 June, thanks largely to a growth in both government and private sector investments and exports, which together make up 74% of total economic growth in FY2017-18, <u><a href=\"https:\/\/ent.news\/2018\/7\/674.pdf\">according to a cabinet statement (pdf)<\/a><\/u>. Non-oil exports were up 12.3% y-o-y for the year to USD 24.1 bn, led by increased exports from the chemical, textile, and engineering industries.<\/p>\n<p><strong>Finance Minister Mohamed Maait reaffirmed that Egypt achieved a primary surplus of 0.2% for the first time in 15 years in FY2017-18<\/strong>, according to <u><a href=\"http:\/\/www.sis.gov.eg\/Story\/172120\/%D9%84%D9%84%D9%85%D8%B1%D8%A9-%D8%A7%D9%84%D8%A7%D9%88%D9%84%D9%89-%D9%85%D9%86%D8%B0-2011..-%D8%A7%D9%84%D8%B9%D8%AC%D8%B2-%D8%A7%D9%84%D9%83%D9%84%D9%89-%D9%8A%D9%86%D8%AE%D9%81%D8%B6-%D8%A5%D9%84%D9%89-%D8%A3%D9%82%D9%84-%D9%85%D9%86-10-%25?lang=ar\">a statement from the State Information Service<\/a><\/u><strong>.<\/strong> The overall budget deficit is also currently under 10% and the debt-to-GDP ratio had also dropped, he said, without mentioning figures. Maait had <u><a href=\"https:\/\/enterprise.press\/stories\/2018\/07\/08\/egypt-achieves-egp-4-bn-budget-surplus-for-first-time-in-15-years\/\">previously said<\/a><\/u> that Egypt\u2019s overall budget deficit is expected to have narrowed to 9.8% in the last fiscal year. The Madbouly Cabinet will be working to achieve a primary budget surplus of 2% for FY2018-19, in addition to a GDP growth rate of 5.8% and sovereign debt level of 93% of GDP.<\/p>\n<p><strong>Economists polled by Reuters aren\u2019t as optimistic about this year\u2019s GDP projections, seeing the economy growing at 5.2% in FY2018-19. <\/strong>The figure has even fallen short of the IMF\u2019s projection of 5.5%. \u201cThe country has made significant progress under the IMF loan programme thus far and therefore Egypt\u2019s medium-term economic growth prospects remain strong,\u201d NKC African Economics\u2019 Nadene Johnson <u><a href=\"https:\/\/af.reuters.com\/article\/investingNews\/idAFKBN1KF0TI-OZABS\">tells the newswire<\/a><\/u>, adding that pushing ahead \u201cwith the difficult reforms will be key to unlocking Egypt\u2019s growth potential.\u201d<\/p>\n<p><strong>As for next year\u2019s projects<\/strong>, the median forecast of 12 respondents was for GDP to reach 5.5%.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Preliminary gov\u2019t figures show Egypt\u2019s GDP growth rose to 5.3% in FY2017-18: Egypt\u2019s GDP grew to 5.3% in FY2017-18, its highest rate in a decade, according to preliminary figures that Planning Minister Hala El Saeed announced yesterday during the Madbouly Cabinet\u2019s weekly meeting. GDP grew to 5.4% in the third and fourth quarters of the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-627241","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"dac287f6-54aa-4523-8b46-08b68f72d15c","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[627236],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Preliminary figures show Egypt\u2019s GDP growth rose to 5.3% in FY2017-18 - 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\/2018\/07\/26\/preliminary-figures-show-egypts-gdp-growth-rose-to-5-3-in-fy2017-18\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Preliminary figures show Egypt\u2019s GDP growth rose to 5.3% in FY2017-18\" \/>\n<meta property=\"og:description\" content=\"Preliminary gov\u2019t figures show Egypt\u2019s GDP growth rose to 5.3% in FY2017-18: Egypt\u2019s GDP grew to 5.3% in FY2017-18, its highest rate in a decade, according to preliminary figures that Planning Minister Hala El Saeed announced yesterday during the Madbouly Cabinet\u2019s weekly meeting. GDP grew to 5.4% in the third and fourth quarters of the [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2018\/07\/26\/preliminary-figures-show-egypts-gdp-growth-rose-to-5-3-in-fy2017-18\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2018-07-26T04:21:13+00:00\" \/>\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=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/07\/26\/preliminary-figures-show-egypts-gdp-growth-rose-to-5-3-in-fy2017-18\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/07\/26\/preliminary-figures-show-egypts-gdp-growth-rose-to-5-3-in-fy2017-18\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Preliminary figures show Egypt\u2019s GDP growth rose to 5.3% in FY2017-18\",\"datePublished\":\"2018-07-26T04:21:13+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/07\/26\/preliminary-figures-show-egypts-gdp-growth-rose-to-5-3-in-fy2017-18\/\"},\"wordCount\":329,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/07\/26\/preliminary-figures-show-egypts-gdp-growth-rose-to-5-3-in-fy2017-18\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2018\/07\/26\/preliminary-figures-show-egypts-gdp-growth-rose-to-5-3-in-fy2017-18\/\",\"name\":\"Preliminary figures show Egypt\u2019s GDP growth rose to 5.3% in FY2017-18 - 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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 &quot;Speed Round&quot;","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":627241,"position":2},"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 &quot;Speed Round&quot;","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":634349,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/14\/govt-revises-economic-growth-forecasts-for-fy2017-18\/","url_meta":{"origin":627241,"position":3},"title":"Gov\u2019t revises economic growth forecasts for FY2017-18","author":"enterpriseam admin","date":"14 January 2018","format":false,"excerpt":"The Planning Ministry has revised Egypt\u2019s economic growth figure for FY2017-18 to 5.3-5.5% from a previous 5-5.25%, Minister Hala El Said announced on Saturday, according to Reuters. GDP growth \u201cwas expected to have grown 5.2-5.3% in the second quarter that ended in December,\u201d according to El Said, who also said\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":642770,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/08\/22\/egypts-gdp-expected-to-hit-5-by-the-end-of-fy2017-18\/","url_meta":{"origin":627241,"position":4},"title":"Egypt\u2019s GDP expected to hit 5% by the end of FY2017-18","author":"enterpriseam admin","date":"22 August 2017","format":false,"excerpt":"GDP growth is expected to hit 5% by the end of the current fiscal year, up from 4.1% in FY2016-17, said Planning Minister Hala El Saeed, according to Reuters. The Finance Ministry had previously said it expects GDP growth during FY2017-18 to come in at no less than 4.6%. Egypt's\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":628673,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/10\/ebrd-ups-forecast-for-egypt-economic-growth-in-fy2017-18-by-0-8-bps-5-3\/","url_meta":{"origin":627241,"position":5},"title":"EBRD ups forecast for Egypt economic growth in FY2017-18 by 0.8 bps 5.3%","author":"enterpriseam admin","date":"10 May 2018","format":false,"excerpt":"EBRD ups forecast for Egypt economic growth in FY2017-18 by to 5.3%: The European Bank for Reconstruction and Development (EBRD) expects Egypt\u2019s economy to grow by 5.3% in FY2017-18, up 0.8 bps from a previous estimate of 4.5%. Economic growth is expected to accelerate further in FY2018-19 to 5.5%, \u201csupported\u2026","rel":"","context":"In &quot;Speed Round&quot;","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\/627241","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=627241"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/627241\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/627236"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=627241"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=627241"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=627241"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=627241"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=627241"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}