Egypt exceeds growth forecasts with 4.77% quarterly expansion, fastest in 3 years

Egypt’s economy expanded 4.77 percent in the third quarter of fiscal year 2024/2025, its fastest pace in three years, as growth rebounded across non-oil manufacturing, tourism, and telecommunications, official data showed. 

According to preliminary figures released by the Ministry of Planning, Economic Development, and International Cooperation, the acceleration—up from 2.2 percent a year earlier—lifted average growth for the first nine months of the fiscal year to 4.2 percent, surpassing earlier expectations and signaling growing resilience amid global uncertainties. 

The ministry added that full-year growth may exceed the government’s 4 percent target. 

This comes as Egypt’s economy has navigated significant turbulence and transformation over the past five years. After pandemic disruption and rising foreign debt, the government secured an $8 billion International Monetary Fund-backed rescue package in early 2024, floated its currency—triggering a 38 percent depreciation—and raised interest rates sharply. 

In its quarterly GDP note, the ministry stated, “Dr. Rania Al-Mashat, minister of planning, economic development, and international cooperation, highlighted that the Egyptian economy continued its robust recovery in the third quarter of the current fiscal year, demonstrating growing resilience amid mounting global uncertainties.”