EGYPT EGYPT | Overview

Official name: Egypt

Capital: Cairo

Official languages: Arabic

Monetary unit: Egyptian Pound (EGP)

Population (million): 86.9

Total area (sq km): 1,001,450


OVERVIEW

Located in the North East Corner of the African Continent, Egypt is a lower-middle income country. Its GDP per capita had increased dramatically since early 2000; however, some portion of the population is still living under the poverty line.

Although recent political instability and social unrest played detrimental role in performance of major economic sectors of the economy, there is a positive outlook on the Egyptian economy for the coming years. More recently, the Government highlighted its economic reform program designed to restore fiscal stability (i.e., new taxes, increasing selected taxes, and reducing energy subsidies) and drive growth, and attract domestic and international investors across key sectors.


Year joined ICD:

Number of projects approved: 18

Gross Approval ($US million): 113.12

Gross Disbursement ($US million): 45.14