Egypt

Capital: Cairo

Population: 81.713.517 (June 2008)

Area: 1.001.450 SQ KM

Currency: Egyptian Pound

Currency Code: EGP

GDP Per Capita (PPP): $ 5,500

GDP (Purchasing Power Parity): $404 Billion

GDP (official Exchange Rate) : $127.9 Billion

GDP – Real Growth Rate: 7.1%

GDP Composition by Industry Sector: Agriculture: 13.8% - Industry: 41.1% - Services: 45.1%

Industry: Textiles, Food Processing, Tourism, Chemicals, Pharmaceuticals, Hydrocarbons, Construction, Cement, Metals, Light manufacturers.

Economy:Over the past 30 years, the government has reformed Egypt’s highly centralized economy.  In 2005, the government reduced personal and corporate taxes, leading to a stock market boom where GDP grew by 5% per year in 2005 and 2006, topping at 7% in 2007.  However, the government continues to provide subsidies for basic necessities leading to a sizeable budget deficit in 2007 – roughly 7.5% of GDP in 2007 – leading to a significant drain on the economy.  Foreign direct investment has significantly increased over the past two years and the government will continue its aggressive pursuit for reform in order to sustain growth and improve economic conditions for the broader population.  Egypt’s export sectors – natural gas in particular – hold bright prospects for the future.