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GDP (current US$)$286.5 billion2014
Population, total89.58 million2014
 Sectors under coverage
Financial Service
Financial Services
Real Estate
In January 2011, Egypt erupted in large-scale anti-regime demonstrations, resulting in the resignation of President Mubarak and the collapse of the regime that had been in power for 30 years. On June 30 2012, Dr. Mohamed Morsi, the candidate of the Freedom and Justice Party was elected as Egypt’s fifth president and the first from outside the military. On August 12, 2012, President Morsi nullified a declaration issued by the military effectively assuming broad executive and legislative powers. Political tensions mounted starting in June 2013 with demonstrations against President Morsi in the lead up to the first anniversary of his presidency.

President Morsi was removed and interim President Adly Mansour was sworn in on July 4, 2013. Presidential elections were held on June 8, 2014, and Abdel Fattah El-Sisi was elected with almost 97% of the votes, and sworn into office as president on June 8, 2014. Prior to this post, El-Sisi was head of the Egyptian Armed Forces and First Deputy Prime Minister and Minister of Defense in previous governments. Presidential elections were the second of a three step transition. The first step, voting on a new constitution, took place in early 2014. Step three of the transition, parliamentary elections, is scheduled to take place from October to December 2015.

Egypt has made great strides along a number of important human development indicators, but economic growth has been moderate, albeit insufficient to absorb the rapidly growing population and labor force. Child mortality, life expectancy, primary and secondary school enrollment, and literacy rates have improved dramatically in the past thirty years, while average per capita income growth has been around 2% per year since 1980 resulting in an increase in unemployment rates and poverty rates.
Starting 2014, the Government of Egypt has initiated reforms to reduce energy subsidies, broaden the tax base, reduce the deficit and improve allocative efficiency, and improve targeting efficiency of social safety nets but more remains to be done.

Source: World Bank
Updated: September 2015

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