CAIRO (Reuters) -Egypt’s GDP growth rate increased to 4.3% in the second quarter of its 2024/25 year compared with 2.3% in the same period a year earlier, the planning ministry said on Wednesday.
GDP grew along with total investments, though public investments were below 40% of the total. Several sectors supported growth, including non-oil manufacturing activity, which was up by 17.74%, and tourism activity, which surged 18%. The fiscal year began on July 1.
Some sectors contracted in the second quarter of fiscal 2024/25, including the Suez Canal, where activity fell by 70%.
Extraction activity growth fell 9.2%, on the back of oil extraction activity, which slipped 7.6% and gas by 19.6%.
(Reporting by Mohammed Ezz; Editing by Andrew Heavens and Bernadette Baum)
