Egypt ranks first in African GDP

Reports of World Economic Forum on competitiveness of African countries asserted that Egypt tops the list in respect of increase of the GDP to the tune of $8 billion.

Egypt also holds the fourth position at the level of developing countries after China, Brazil and Malaysia, and comes before South Africa, Portugal, Chili and Tunisia.

"Egypt was also considered as one of the first group in respect of competitive economic capabilities," said Ambassador Ahmed Haggag, Foreign Minister Advisor for African Affairs, who represented Egypt in the Economic Summit for South African States, that wound up in Durbin on Saturday.

Egypt came number two in respect of the positive prospects for businessmen.

The summit also discussed the monetary and financial policies and the means to liberalize trade among African countries, to obtain technology and realize a strategy for African evolution and integration besides combating crime, corruption and aids.