The Sphinx's enigma: testing Egypt's political and economic stability again

Last update – January 2024
Business environment risk
Political risk
Commercial risk
Financing risk
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GDP USD476.7bn (World Ranking 32, World Bank 2022)
Population 111.0mn (World Ranking 14, World Bank 2022)
Form of state
Republic
Head of government
Abdel Fattah EL-SISI (President)
Next elections
2025, legislative
  • Domestic and foreign investments in infrastructure and construction, as well as positive demographics, drive high economic growth rates, despite structural challenges
  • Access to alternative financing has improved, including modest privatizations and different markets, such as the Panda bonds
  • Suez-related revenues and tourism receipts contribute to a relatively balanced current account, showcasing the country’s ability to stabilize key income sourcess
  • High inflation rates, particularly for food prices, pose a significant challenge to the economy, impacting purchasing power and creating difficulties in managing foreign exchange reserves
  • Potential for social unrest, driven by issues such as youth unemployment, currency depreciation and geopolitical tensions, poses a risk to political stability
  • A decrease in Suez Canal and tourism revenues due to regional conflicts may add to existing challenges in accessing diverse funding sources due to high global interest rates, large credit default swap spreads and a difficult dialogue with the IMF, ultimately leading to a sovereign default

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  Exports Rank Imports  
Saudi Arabia 7.1% 1 16.2% China
Italy 6.5% 2 10.6% Saudi Arabia
Spain 6.4% spain.png 3 7.0% United States
Türkiye 6.2% 4 Russian_Federation.png 5.4% Russian Federation
 United States 5.0% 5 4.4% Türkiye

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Exports Rank Imports
Gas, natural and manufactured 17.7% 1 13.4% Petroleum, petroleum products and related materials
Petroleum, petroleum products and related materials 14.5% 2 8.0% Cereals and cereal preparations
Vegetables and fruits 8.5% 3 4.7% Plastics in primary forms
Fertilizers other than group 272 6.7% 4 4.1% Iron and steel
Articles of apparel & clothing accessories 5.1% 5 4.1% Medicinal and pharmaceutical products
Luca Moneta
Allianz Trade