Economy of Egypt

Uncommon card · No. 94791

Egypt has a developing mixed economy, combining private business with government regulation. It is the 2nd largest economy in Africa, and 41st in worldwide ranking as of 2026. It is a major emerging market economy and a member of the African Union, BRICS, and a signatory to the African Continental Free Trade Area (AfCFTA). Since the 2000s, structural reforms including fiscal and monetary policies, tax adjustments, privatization, and new business legislation have helped Egypt move towards a more market-oriented economy and increased foreign investment. The reforms lifted annual macroeconomic growth and helped bring down the country's high unemployment and poverty rates. Egypt is recovering from its 2023–2024 financial crisis. It has benefited from reforms under its development strategy Egypt Vision 2030, as well as a dramatic currency floatation in 2024 that resulted in a 38% depreciation of the Egyptian pound against the dollar after securing more than $50 billion in international financing...

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