Egypt Economy Continues Economic Progress

Egyptian authorities revised its previous GDP fiscal year estimate of 5.0 to 5.5 percent amid renewed infrastructure investments, according to Reuters. The economy grew 4.2 percent in the 2014/15 fiscal year, expanding 2.2 percent since last year, and investments comprised over 14 percent of GDP. Egypt also plans to boost exports by 15 percent for 2016 in wake of Russian sanctions against Turkey.

Egypt underwent political and social turmoil in the past few years as the country suffered through numerous coups, with major trouble starting when President Hosni Mubarak was overthrown in 2011, but continuing with President el-Sisi's aims to get the country on stable footing through foreign investment.