FX.co ★ Egypt GDP Growth Hits Over 2-Year High

Egypt's economy expanded by 4.3% year-on-year in the final quarter of 2024, achieving its most rapid growth since the third quarter of 2022 and accelerating from a 3.5% rise in the previous quarter. This upturn was primarily fueled by robust performance in crucial sectors, notably tourism, which surged by 18%, and trade-related transportation. Additionally, the non-oil manufacturing sector experienced a significant 17.7% increase, facilitated by more efficient customs clearance processes for raw materials and an alleviation of the foreign-currency shortage.