Egypt 3rd fastest growing economy by Harvard University

Although Egypt’s economy has been experiencing serious hardships in the past several years, projections are very promising by international organizations. The Center for International Development (CID) of Harvard University states in its Global Growth Projections report released this month that Egypt is ranked as the 3rd fastest growing economy in the world with a projected economy growth rate of 6.63% per year for the next 8 years until 2016. Egypt comes second in place after Uganda in Africa while India is number 1 worldwide.

“The growth projections are based on Economic Complexity, a single measure of each country’s economy which captures the diversity and sophistication of the productive capabilities embedded in a country’s exports,” said the report.

Check our Doing Business in Egypt report for a general overview regarding the legal, labor-related, accounting and tax aspects of investing in Egypt to exploit the economy’s projected growth.