Egypt Economy Infographic 2016: A Brighter Outlook
26 Jan 2016
After several years of uncertainty, Egypt’s economy is picking up momentum in key segments, with international linkages - in terms of transport, trade and telecoms - major beneficiaries of government support and private investment.
- Transport: Expanding Canal Capacity - The most visible evidence of a renewed focus on infrastructure is the expansion of the Suez Canal, a project that was completed in record time and was almost entirely financed by the local market.
- Industry: Prioritising Trade - The Ministry of Planning aims to increase overall economic growth to 7% per annum, with exports set to contribute 25% to this growth.
- Connectivity: Getting Online - Plans to offer 4G spectrum in 2016, part of a broader plan to increase internet penetration, should continue to lead to increases in internet and data usage.
- Insurance: Room To Grow - Insurance premiums have been on the up in the last five years, despite an estimated penetration rate of 1.2% and insurance density of just $22.30 per person.