Egypt Economic Overview

Egypt Economic Overview

Africa
Basic data
Capital Cairo
Population 10miles as of 5/17/2022
Language Arabic
Religion 85% Islam, 15% Christianity
State system Arab Republic of Egypt
Head of State Abd-al Fattah al-Sisi
Head of government Mostafa Madbouly
Currency name Egyptian Pound (EGP)
Travel
Time shift +1 hour (in summer without shift compared to CET)
Economy 2021
Nominal GDP (billion USD) 1,376.00
Economic growth (%) 3.3
Inflation (%) 5.2
Unemployment (%) 7.4

So a basic summary for a general idea of ​​the country: who has executive power and a brief description of the state establishment, legislation (briefly), the economy and opportunities for Czech companies, or problems when entering the market, if any. If the specific business culture can be described in a maximum of two sentences. Add a view into the future.

The Arab Republic of Egypt is a representative semi-presidential republic with a multi-party system. Since the Egyptian Revolution of 2011, which led to the resignation of President Hosni Mubarak, who had ruled Egypt since 1981, executive power has been held by the Supreme Council of the Armed Forces (SCAF). She dissolved the parliament and suspended the validity of the constitution. In 2012, Muhammad Morsi was elected as the new president. After another wave of demonstrations, Morsi was overthrown by the army in July 2013 and replaced by the interim president, who became Adli Mansour. The army also suspended the post-revolutionary constitution of 2012. The new constitution came into force in January 2014, when it was approved by the people in a referendum, and was modified with several amendments in 2019.

In June 2014, General Abdel Fattah al-Sisi, former commander of the armed forces and leader of the military coup against President Morsi, was elected as the seventh president of Egypt.

President Abdel Fattah al-Sisi is expected to remain in power throughout the forecast period and beyond. Constitutional changes extended his current second term from four to six years, until 2024, and will allow him to run for another six-year term, until 2030, when he will be 75.

The military has a significant influence on the economic and political course of the country. Her political influence is growing again. All this with the support of President Sisi, according to whom the civilian state units are not capable of independently establishing and implementing policies that would ensure the stability of the country. Nevertheless, the president is very popular with the public, he has become a symbol of the stabilization of the security and social situation. Sisi has managed to make Egypt safer than in the past, although his rule is characterized by restrictions on freedom of speech and harsh autocratic practices. On the other hand, Sisi’s critics are also worried about his potential alternative, which at the moment basically does not exist. Political parties based on religion were again banned. After the constitutional change in 2019, the executive role of the government is even more dominant than the judiciary, which also suffers from a lack of qualified judges. The public sector is bloated, suffering from a large amount of bureaucracy. Private companies have a hard time competing with military-owned firms.

According to allcountrylist, the economy is large, diversified and has proven its stability and resilience during the pandemic. Industrial production, mining, trade and agriculture represent the largest economic sectors, contributing more than half of the GDP. Within the services sector, income from the Suez Canal plays a key role, accounting for up to half of service income. No less important is tourism, which was heavily affected by the pandemic and which was heavily targeted by the government’s package of pandemic measures. Within the mining industry, oil and gas extraction dominates, accounting for 90% of the sector’s total output. Remittances are significant, reaching almost 10% of GDP. The economy has been on a growth trajectory of around 5% for a long time, only in the fiscal years 2020 and 2021, which always end in June of the given year, the growth decreased to approx. 2.5-3.5%.

Contacts

Subchapters:

  • Contacts to Czech embassies in the territory
  • Practical telephone numbers (emergency services, police, firefighters, information lines, etc.)
  • Important Internet links and contacts

Contacts at the embassies of the Czech Republic in the territory

Addresses of embassies (including PaulTrade), working hours, telephones, emails, ideal connections from the airport and the city center.)

If it is PROPEA, add the contact.

Embassy of the Czech Republic in Egypt

4 Dokki Str. 125 11 Giza (Cairo),

Egypt phone: +20 233339700

– fax exchange: +20 237485892

website: www.mzv/cairo

email: [email protected]

economic department: [email protected]

consular department: [email protected]

Mob. connection after working hours and on free days to the diplomatic service (reserved for dealing with extraordinary situations of Czech citizens) tel: +20 12742 7513.

The working days of the Embassy are in accordance with local customs from Sunday to Thursday, on the other hand, the Embassy observes holidays according to the Czech calendar.

Connections from the airport and the city center:

For transportation from the airport and the city center to the Embassy of the Czech Republic in Cairo, the best option is to use a taxi. The airport offers taxi transfers on the spot, taxis can be found in the city center basically everywhere and at any time of the day. Depending on the current traffic situation, the journey should take around 60 minutes from the airport to the Embassy in the Czech Republic.

The Czech Trade office is located at the same address as ZÚ CR: 4, Dokki Street, Giza (Cairo), Egypt

Office Manager – Neklan Coufal Tel: +00202 33339727

Phone and Fax: +0020 23760 2584

email: [email protected]

CzechInvest, CzechTourism and Czech Centers are not currently represented in Cairo or elsewhere in Egypt.

Practical telephone numbers (emergency services, police, firemen, information lines, etc.)

See contacts name of the subsection + other important phone numbers

  • permanent police service: 122
  • first aid: 123
  • tourist police: 126
  • firemen in Cairo: 125
  • Alexandria firefighters: 180

Health services in state hospitals are at a low level compared to European standards. In addition, the care provided is devalued by relatives staying in the room and corridors. Therefore, foreigners are recommended the services of private hospitals, which are significantly more expensive, but care and services are at a much higher level than in state facilities. The treatment of patients is better organized in private clinics and, for example, post-operative care of a much higher standard is ensured than in state hospitals. However, even in private facilities, the hygiene level, nursing care and often professional services do not reach the standard common in the Czech Republic.

Cairo’s main private hospitals are:

  • As-Salam International Hospital, Corniche el-Nil, POBox 388 – Maadi – Cairo, tel. emergency 5240077, 5240250, 5240232
  • Misr International Hospital, 12 Saraya Str., Dokki, Giza, phone emergency 7494007, 3353567
  • Dar al Fouad Hospital, emergency phone number 010-1911911, 577 7300
  • Al-Salam Hospital, tel. emergency 3034780

Pharmacies have a dense network and are well stocked. There is no health insurance system for foreigners in the EAR. Czech travelers should be warned that the price for intensive care in a private hospital can be high and it is therefore necessary to take out insurance in the Czech Republic. The authorities of the local hygiene service do not require any mandatory vaccinations for a stay in Egypt. Therefore, an international vaccination card is not required when entering the country. However, according to WHO (World Health Organization) recommendations, vaccination against hepatitis A, B and typhoid belongs to the protection of every traveler to this area. The preventive use of antimalarials is recommended during a longer stay in the south of Egypt. A valid yellow fever vaccination is required when returning from Sudan after a stay of more than one month. The phone number for the “first aid” or ambulance service organized by the Ministry of Social Security is 123.

Important web links and contacts

Websites and contacts for all ministries, the government, the president, local chambers of commerce and further for consideration by country (e.g. major media, central bank, economic analysis, tax administration…)

  • www.idsc.gov.eg – government information
  • www.mfa.gov.eg – Ministry of Foreign Affairs
  • www.mti.gov.eg/english/index.htm – Ministry of Trade and Industry
  • https://www.mod.gov.eg/ModWebSite/MODL.aspx – Ministry of Defense and Military Production
  • www.civilaviation.gov.eg – Ministry of Civil Aviation
  • http://www.moiegypt.gov.eg/ – Ministry of Interior
  • www.mohp.gov.eg – Ministry of Health
  • http://www.moc.gov.eg/en/home/ – Ministry of Culture
  • https://www.moic.gov.eg/ – Ministry of Investment and Foreign Cooperation
  • http://portal.mohesr.gov.eg/en-us/Pages/default.aspx – Ministry of Higher Education
  • http://www.moee.gov.eg/english_new/home.aspx – Ministry of Electricity and Renewable Energy
  • https://www.mof.gov.eg/English/Related%20Links – Ministry of Finance
  • http://www.agr-egypt.gov.eg- Ministry of Agriculture and Soil Fertilization
  • http://www.manpower.gov.eg/index-e.html – Ministry of Manpower
  • http://www.mhuc.gov.eg/ – Ministry of Construction and Urban Research
  • https://egymonuments.gov.eg/ – Ministry of Tourism and Monuments
  • https://www.mwri.gov.eg/Services/energy-in-pumping-project-pro/ – Ministry of Irrigation and Water Resources
  • https://www.petroleum.gov.eg/en/Pages/HomePage.aspx – Ministry of Petroleum Industry and Mineral Resources
  • https://mcit.gov.eg/en/ICT_Industry_Development – Ministry of Communications and Information Technology
  • http://www.mpbs.gov.eg/Arabic/Pages/default.aspx – Ministry of Business Affairs
  • http://www.eeaa.gov.eg – Ministry of the Environment
  • https://www.emys.gov.eg/en – Ministry of Youth and Sports
  • https://mped.gov.eg/home?lang=en – Ministry of Planning and Economic Development
  • http://www.mot.gov.eg – Ministry of Transport
  • http://www.moe.gov.eg/ – Ministry of Education and Technical Education
  • http://www.jp.gov.eg/ar/Default.aspx – Ministry of Justice
  • http://www.mold.gov.eg – Ministry of Regional Development
  • http://ar.awkafonline.com – Ministry of Religious Affairs
  • http://www.msit.gov.eg – Ministry of Supply
  • N/A – Ministry of Legal and Parliamentary Affairs
  • http://www.moss.gov.eg – Ministry of Social Solidarity
  • http://www.emigration.gov.eg – Ministry of Immigration and Population Affairs
  • N/A – Ministry of Information
  • www.cbe.org.eg – Central Bank of Egypt
  • www.eces.org.eg – Center for Economic Studies
  • www.amcham.org.eg – American Chamber of Commerce
  • www.erf.org.eg – Economic Research Forum
  • www.eeas.europa.eu/delegation/egypt – EU Delegation in Cairo
  • www.doingbusiness.org – taxes, tax regulations, law overview
  • www.eeas.europa.eu/egypt/aa/06_aaa_en.pdf – European Commission (information on EU-EC trade)
  • https://ec.europa.eu/trade/policy/countries-and-regions/countries/egypt – EU – Egypt Association Agreement

Egypt Economic Overview