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Change in per capita GDP of Egypt, 1820–2018. Figures are inflation-adjusted to 2011 International dollars. From the 1850s until the 1930s, Egypt's economy was heavily reliant on long-staple cotton, introduced in the mid-1820s during the reign of Muhammad Ali (1805–49) and made possible by the switch from basin irrigation to perennial, modern irrigation. [24]
Egypt's struggling economy faces new risks as the war in the neighbouring Gaza Strip threatens to disrupt tourism bookings and natural gas imports. Oil-rich Gulf countries, which repeatedly ...
[6] [7] Egypt's debt service from debt installments and interest amounted to about US$42.3 billion during 2024, its highest bill ever required to be paid in a single year, after external debt jumped to about US$165 billion and cash reserves did not exceed US$35.2 billion. [3] During the period from 2014 to 2024, Egypt's total external debt doubled.
Over the past year, Egypt’s central bank has tried to target inflation by hiking its main interest rates. Last week, the bank's most basic rate of lending, the overnight deposit rate, increased ...
The surge in numbers leaving Egypt in recent years coincides with Egypt's worsening economy. The pandemic hit Egypt's vital tourist industry and the Ukraine war made investors more risk averse ...
July 18 – Egypt's Suez Canal reported a 23.4 percent drop in revenues attributed to disruptions in Red Sea shipping over the past year, marked by attacks from Yemen's Houthi militia on Israeli-linked vessels. [20] July 30 – Five people are killed and nine others are injured when a boat capsizes on the Nile River in Cairo. [21]
(Bloomberg Opinion) -- As Saudi Arabia and Russia engage in a war on oil prices, their mutual friend Egypt could fall victim to the fallout. The timing could hardly be worse for an economy already ...
This is a list of governorates of Egypt by GDP and GDP per capita. The Egyptian pound (EGP) has been converted to the international dollar using the IMF's Purchasing Power Parity conversion rate (one International dollar per 4.538 EGP in 2021).