World Bank2017-08-142017-08-142010https://hdl.handle.net/10986/27775Egypt's growth accelerated in the second half of FY10. Real Gross Domestic Product (GDP) growth in FY10 reached 5.8 percent, up from 4.4 percent in FY09 and 4.8 percent in FY10, taking up overall GDP growth to an average of 5.3 percent for the full FY10. Egypt's macroeconomic outlook is stable. Assuming that domestic demand holds up, and Egyptian exports continue their observed recent trend, we expect that the Egyptian economy grows in the range of 6.0 to 6.2 percent in FY11. This is underpinned by strong commitment to maintain structural reforms momentum, and a relatively stable global economy. However, unemployment will remain a challenge as growth as high as 6 percent will barely absorb the increasing number of new entrants to the labor market. Unemployment will continue to be an overriding concern and will gradually fall to around 8.7 percent in FY11. Finally, inflationary pressures are expected to rise, as global prices are likely to filter to domestic consumer prices, domestic demand will gain more solid ground, and gradual adjustment of energy prices will be implemented. Interest rates are not thus expected to rise, yet real interest rates will remain low or negative. This outlook is consistent with that of standard and poor's ratings services which affirmed in 2010.en-USCC BY 3.0 IGOAGRICULTUREANNUAL GROWTHBALANCE OF PAYMENTSBANK BRANCHESBANK CREDITBANKING SECTORBANKING SYSTEMBASIC NEEDSBASIS POINTSBENEFICIARIESBIDSBILLBLACK MARKETBONDBOND ISSUANCEBORROWINGBROAD MONEYBUSINESS ACTIVITYCAPITAL ACCOUNTCAPITAL FLOWSCAPITAL FORMATIONCENTRAL BANKCOMPETITIVENESSCONSUMERSCONSUMPTION EXPENDITURECORE INFLATIONCORPORATE EXTERNAL DEBTCORPORATE TAXCORRUPTIONCOUPONCREDIT GROWTHCREDIT RATINGSCURRENT ACCOUNTCURRENT ACCOUNT BALANCECURRENT ACCOUNT DEFICITCUSTOMS DUTIESDEBT CRISISDEBT OBLIGATIONSDEBT OUTSTANDINGDEBT RELIEFDEBT SERVICEDEBTSDEPOSITDEPOSIT INTERESTDEPOSIT INTEREST RATEDEPOSITSDEVELOPMENT ECONOMICSDIRECT INVESTMENTDISBURSEMENTDISBURSEMENTSDISCOUNT RATEDOMESTIC CONSUMPTIONDOMESTIC CREDITDOMESTIC CREDIT GROWTHDOMESTIC DEBTDOMESTIC DEMANDDOMESTIC ECONOMYEARNINGSECONOMIC CONDITIONSECONOMIC DEVELOPMENTSECONOMIC GROWTHECONOMIC TRENDSEMERGING MARKETSENROLLMENTEQUITIESEURO ZONEEXCHANGE RATEEXCHANGE RATE POLICIESEXPENDITUREEXPENDITURESEXPORT SUBSIDYEXPORTSEXPOSUREEXTERNAL BALANCEEXTERNAL BALANCESEXTERNAL DEBTEXTERNAL DEMANDEXTERNAL POSITIONFAMILIESFINANCIAL ACCOUNTFINANCIAL CRISISFINANCIAL MARKETFINANCIAL SECTORFISCAL BALANCEFISCAL DEFICITFOOD PRICEFOOD PRICESFOREIGN ASSETSFOREIGN COMPANIESFOREIGN CURRENCYFOREIGN DEBTFOREIGN DIRECT INVESTMENTFOREIGN EXCHANGEFOREIGN EXCHANGE POLICYGDP PER CAPITAGENDERGLOBAL ECONOMYGLOBAL LIQUIDITYGLOBAL TRADEGOLDGOVERNANCE INDICATORSGOVERNMENT ASSETSGOVERNMENT DEBTGOVERNMENT FINANCEGOVERNMENT SPENDINGGROSS CAPITAL FORMATIONGROWTH RATEGROWTH RATESHIGH INTEREST RATEHOUSEHOLDSIMMUNIZATIONIMPORTIMPORTSINCOMEINCOME TAXESINFLATIONINFLATION INDEXINFLATION RATEINFLATIONARY IMPACTINFLATIONARY PRESSUREINFLATIONARY PRESSURESINFRASTRUCTURE PROJECTSINSURANCEINTEREST PAYMENTSINTEREST RATEINTEREST RATE DIFFERENTIALSINTEREST RATESINTEREST SUBSIDIESINTERNATIONAL FINANCIAL INSTITUTIONSINTERNATIONAL RESERVESINTERNATIONAL STANDARDINVESTMENT PROJECTSINVESTMENT SPENDINGLABOR FORCELABOR MARKETLENDING INTEREST RATELENDING POLICYLIFE EXPECTANCYLIQUIDITYLOANLOAN-TO-DEPOSIT RATIOLOCLOCAL CURRENCYM2MACROECONOMIC INSTABILITYMARKET CAPITALIZATIONMARKET PRICEMARKET VOLATILITYMATURITIESMATURITYMOBILE PHONEMONETARY POLICYMONEY SUPPLYNATIONAL BANKOIL EXPORTSOIL PRICESPENSIONPENSION FUNDSPENSION LAWPENSION SYSTEMPENSIONSPERSONAL COMPUTERSPOLITICAL STABILITYPOPULATION GROWTHPORTFOLIOPORTFOLIO INFLOWSPORTFOLIO INVESTMENTSPOWER OUTAGESPREPAYMENTSPRICE INCREASESPRICE INDEXPRINCIPAL REPAYMENTSPRIVATE PLACEMENTPRIVATE SECTOR DEBTPRIVATE SECTOR DEVELOPMENTPRIVATIZATIONPROFITABILITYPROPERTY TAXPROPERTY TAXESPUBLIC BANKSPUBLIC COMPANIESPUBLIC DEBTPUBLIC FINANCEPUBLIC FINANCESPUBLIC INVESTMENTPUBLIC-PRIVATE PARTNERSHIPQUOTASREAL GDPREAL INTERESTREAL INTEREST RATESRECEIPTSRECESSIONREMITTANCESRESERVERESERVESRETURNRULE OF LAWSAVINGSSETTLEMENTSHORT-TERM DEBTSHORTFALLSKILLED WORKERSSLOWDOWNSOCIAL WELFARESOVEREIGN DEBTSTABLE LOCAL CURRENCYSTOCK EXCHANGESTOCK MARKETSTOCK MARKET CAPITALIZATIONSTRUCTURAL REFORMSSURPLUSSURPLUSEST-BILLST-BONDSTAXTAX RATETAX RATESTAX REVENUESTOTAL DEBTTOTAL DEPOSITSTOTAL EXTERNAL DEBTTRADE BALANCETRADE DEFICITTRADINGTRANCHETRANSPORTATION COSTSTUITIONUNDERWRITERUNEMPLOYMENTUNEMPLOYMENT RATEURBAN AREASVALUE ADDEDVARIABLE RATEReportWorld Bank10.1596/27775