Egypt’s economy grew by 4.3% in the second quarter of the 2024/2025 fiscal year (October-December) compared to the same period a year earlier, the Ministry of Planning, Economic Development and International Cooperation said.
This is the highest rate of upturn in more than two years (from July-September 2022).
Output in non-oil economic sectors rose 17.7 per cent. The tourism industry grew by 18 per cent, with the number of tourists visiting the country reaching 4.41 million.
Meanwhile, the extractive industry showed a decline of 9.2 per cent, including the oil sector by 7.6 per cent and the gas sector by 19.6 per cent. A reduction in the number of ships passing through the Suez Canal due to geopolitical tensions was responsible for a 70% drop in revenues in this segment.
Business investment jumped 35.4% last quarter, while government spending fell 25.7%.