Egypt’s GDP growth rate climbed to 4.3% in the second quarter of the 2024/25 fiscal year, a significant rise from the 2.3% recorded in the same period the previous year, the planning ministry announced on Wednesday.
Economic expansion was accompanied by an increase in total investments, though public investments accounted for less than 40% of the total. Key drivers of growth included non-oil manufacturing, which surged by 17.74%, and tourism, which saw an 18% boost. The fiscal year commenced on July 1.
However, some sectors experienced a downturn. Activity in the Suez Canal contracted sharply, plummeting by 70%. The extraction sector also recorded a decline of 9.2%, with oil extraction dropping 7.6% and gas extraction falling by 19.6%.
