In his first televised interview, interim President Adly Mansour stated that stability is the main pillar for the revival of Egypt’s economy, as tourism alone provides an annual income of about $15 billion.
“We understand that the living standard of many Egyptians has been affected by internal turmoil, but only by embracing the government will Egyptians be able to improve the image of the country in the eyes of the outside world,” Mansour added.
His concerns came along with a set of economic indicators which he read publicly. The most important are:
- Inflation rate: 8.6%
- Unemployment: 13% (=3.5 million jobless people)
- Foreign Direct Investment (FDI): $2 billion in 2013, compared to $13 billion in Fiscal Year (FY) 2007/2008
- Percentage of Foreign Debt from GDP: 14.7% in Q1 FY 2012/2013
- Amount of Foreign Debt: $38.4 billion
- Percentage of Domestic Debt from GDP: 82.2% in Q1 FY 2012/2013
- Amount of Domestic Debt: EGP1460.5 billion
- Reserves: $18.8 billion in July 2013, compared to $35 billion in FY 2009/2010
- Imports: EGP147 billion from January to April 2013
- Exports: EGP71 billion from January to April 2013
- Trade Balance Deficit: EGP76 billion
- Budget Deficit: EGP217 billion in FY 2012/2013
- Prospect Budget Deficit FY 2013/2014: EGP186 billion