Saifaddin Galal
Research Expert covering the economy and society on Egypt, South Africa, and Ethiopia
Get in touch with us nowGovernment financing and a diverse trade market
Between 2017 and 2027, the national debt is expected to follow a rising trend, however, national debt in relation to GDP is expected to decline, reaching 80.7 percent. Government revenue, as well as expenditure, are expected to reach almost three trillion and 3.8 trillion Egyptian pounds by 2027, respectively, gradually increasing yearly.In addition, Egyptian imports outweigh exports, leading to a negative balance of trade. Even though mineral fuels, oils, and distillation products were the fundamental category of imports and exports for the country, the cumulative imports and exports were mainly non-petroleum products. Electrical and electronic equipment, along with machinery, nuclear reactors, and boilers were the leading imports into the country in 2019, totaling around around 14 billion U.S. dollars. As for the exports, pearls, precious stones, metals and coins, and "plastics" were among the principal products being sold by the country.
Fluctuating inflation and the job market
Since the mid-1980s, the inflation rate has been fluctuating, coming to a peak of approximately 25 percent in 1987 and dropping to 2.4 percent in 2001 and 2002. More recently, in 2017, inflation once again increased to 23.5 percent. This occurred after the Central Bank decided to float the Egyptian pound. Nevertheless, the unemployment rate was decreasing since the peak of 2013. It is worth noting that the same year, former President Mohamed Morsi was overthrown by the military after mass protests took place. In 2020 and 2021, the unemployment rate has been on the rise once more. Of those employed in 2020, 21 percent were employed in the agriculture, followed by 14 percent in construction and building.
