Egypt's GDP grows 5% in Q3 FY2025/2026, exceeding initial projections
via Egypt Today2 min read
Egypt's Minister of Planning and Economic Development, Ahmed Rostom, announced that the country's GDP grew by a preliminary 5 percent in the third quarter of fiscal year 2025/2026. This growth rate surpasses the 4.8 percent recorded in the same period of the previous fiscal year and exceeded initial expectations of 4.6 percent, despite regional tensions. Several non-oil sectors showed strong performance, with the Suez Canal growing by 23.6 percent, the restaurants and hotels sector by 8.3 percent, and the construction sector by 5.6 percent. Non-oil manufacturing also saw positive growth of 2.1 percent, with notable increases in wood products, motor vehicle manufacturing, chemical industries, pharmaceuticals, paper, and food industries. The construction sector's rebound is attributed to ongoing infrastructure projects and urban expansion, with Fitch Ratings projecting continued expansion. The extractive industries sector's contraction eased due to increased drilling and exploration, boosting oil and gas production. The government has also reduced arrears owed to foreign partners from $6.1 billion to approximately $700 million, aiming to settle all obligations by the end of June. Recent oil and gas discoveries are expected to further enhance production and sector growth in the fourth quarter of FY2025/2026.
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