Egypt’s economy grows by 3.6 % in FY 2016/2017

Egypt’s Gross Domestic Product (GDP)  has recorded a growth of 3.6 percent  during the financial year 2016-2017 according to the Central Bank of Egypt monthly report.

The report calcified that the GDP has achieved a growth rate of 3.6 percent with fixed prices to register 1974.2 billion Egyptian pounds during financial 2016-2017 compared to 1906.1 billio pounds during the precedent financial year.

According to figures from the CBE, the most important sectors that have contributed in the GDP growth include wholesale and retail trade, real estate activities, construction, communication,  processing industries and general governing.

On the Other hand, The GDP has recorded 3409 billion pounds  adding the cost of production factors, current prices, during the late financial year compared to 2674.4 billion pounds a year earlier with a growth rate  of 27.5 percent.

The report pointed out that the GDP has achieved a growth rate of 2.8 percent with fixed prices to register 2191 billion Egyptian pounds in the period between July and March of the financial 2016-2017 compared to 2132 billion pounds during the precedent financial year.