Egypt to be 22nd largest economy in 2028: CEBR

Today, the Egyptian economy occupies the 44th position worldwide, mainly held back political instability, according to the Centre for Economics and Business Research’s (CEBR) World Economic League Table 2013.

By 2028, it will have outperformed Switzerland, Hong Kong SAR, Nigeria, Sweden, Iraq, Philippines, Argentina and the Netherlands. Egypt’s GDP will have reached $1,069 billion.

The CEBR is a forecast service which provides economic forecasting and analysis to private firms and public organizations.

In its World Economic League Table of 2013, the CEBR depends on certain developments on which it bases its predictions: The emerging market currency sell off in mid-2013, the revised views about the future of commodity prices, and substantially revised views about the future of energy prices. The elements the report works with are a real GDP growth forecast, an inflation forecast and a currency forecast.

While in 2013, the United States and China top the world’s economies, the status quo will remain standing up until 2023. With a GDP of $33,513 billion, China will overtake the United States in 2028, with India coming in third and Japan occupying the fourth rank, according to CEBR.