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Egypt

Egypt is situated in North Africa with 2,900km of coastline on the Mediterranean Sea, which links to the Red Sea through the Suez Canal. With GDP of US$363bn in 2020,...

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Egypt’s economy grew 5.3% in the fiscal year to June 2018 from 4.2% in 2017 as the country continued its recovery through painful years of reforms, largely prompted by conditions of a US$12bn International Monetary Fund (IMF) loan. The 2016 floating of the Egyptian pound saw it immediately devalue by 50%, while inflation soared and import prices became prohibitive. At the same time, the government introduced value-added tax and withdrew fuel and food subsidies.