Egypt’s GDP growth rate increased to 4.3% in the second quarter of its 2024/25.
This is compared to 2.3% in the same period a year earlier, the Egyptian planning ministry said on Wednesday.
GDP grew along with total investments, though public investments were below 40% of the total. Several sectors supported growth, including non-oil manufacturing, which was up by 17.74%, and tourism which surged 18%. The fiscal year begins on 1 July.
Some sectors contracted in the second quarter of fiscal 2024/25, including the Suez Canal, where activity fell by 70%.
Extraction growth fell 9.2%, on the back of oil extraction, which slipped 7.6% and gas by 19.6%.
[Photo: by Nada Habashy on Unsplash]