Egypt's GDP reaches 498 billion

Egypt's GDP is expected to hit LE 498 billion at the end of the current fiscal year (FY). This based on the current prices, the Cabinet Information and Decision Support Centre's (CIDSC) recently issued national data bulletin indicated. Last year's GDP was LE 474.5 billion.

The bulletin also expects a GDP growth rate of 5 percent this fiscal year compared to 4.1 percent last year. According to the CIDSC bulletin, an average individual's income has risen to LE 6.843 this year, compared to LE 6.142 last year.

The bulletin also expected national savings to rise, potentially exceeding LE 96.8 billion compared to LE 90.4 billion last year. Local investment is expected to hit LE 87.1 billion compared to LE 68.1 billion a year before.