Impact of COVID-19 on projected real GDP growth in Egypt 2019-2023

The coronavirus (COVID-19) pandemic is going to have repercussions on most of the countries worldwide, as is the case for Egypt as well. The Gross Domestic Product (GDP) was grew by 3.6 percent in 2020 and was estimated to grow 3.3 percent in 2021. In fact, Egypt was one of the few African countries showing a positive real GDP growth rate and the only in the North African region in 2020, regardless of the negative effects of the pandemic. Moreover, it is projected that in 2022 the Egyptian real GDP would grow by 5.7 percent.

With regards to Egyptian cumulative coronavirus cases, Egypt is the fourth most hit country in the continent with 387,159 cases as of early 2022. Tourism receipts are believed to be drastically affected, along with remittances.