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Table 1. Egypt: Selected Macroeconomic Indicators,
2014/15–2017/18 1/
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2014/15
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2015/16
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2016/17
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2017/18
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Prel.
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EFF
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Revised
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EFF
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Revised
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Output and prices
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Real GDP (market prices)
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4.4
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4.3
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4.0
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3.5
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4.8
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4.5
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Consumer prices (end of period)
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11.4
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14.0
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16.6
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32.8
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11.1
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10.3
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Consumer prices (period average)
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11.0
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10.2
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18.2
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23.9
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13.3
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22.1
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Public finances 2/
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Gross Debt
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88.5
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96.9
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93.8
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98.4
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89.1
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87.7
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External
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7.9
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7.7
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10.1
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20.8
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8.9
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19.1
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Domestic
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80.5
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89.0
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83.7
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77.7
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80.2
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68.6
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Budget sector 3/
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Revenue and grants
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19.0
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18.0
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20.7
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18.2
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18.8
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18.8
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Expenditure (incl. net acquisition of financial assets)
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30.5
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30.3
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30.5
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28.7
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27.2
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27.3
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Of which:
Energy subsidies
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4.0
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3.0
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2.6
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3.9
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1.4
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3.1
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Overall balance
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-11.4
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-12.3
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-9.8
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-10.5
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-8.4
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-8.5
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Overall balance, excl. grants
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-12.5
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-12.5
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-9.9
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-10.5
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-8.5
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-8.6
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Primary balance
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-3.5
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-3.4
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-0.8
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-1.8
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1.1
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0.4
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Monetary sector
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Credit to the private sector
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16.7
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14.2
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8.3
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37.8
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15.9
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8.7
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Reserve money 6/
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33.3
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-1.6
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16.1
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26.8
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18.9
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24.5
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Broad money (M2)
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16.4
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18.6
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16.7
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35.2
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20.6
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22.2
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Treasury bill rate, 3 month (average, in percent)
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11.4
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11.8
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19.7
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18.1
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14.9
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21.3
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External sector
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Exports of goods (in US$, percentage change)
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-14.6
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-16.1
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12.8
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19.2
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8.4
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9.9
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Imports of goods (in US$, percentage change)
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2.3
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-6.2
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1.7
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-0.1
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7.4
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4.3
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Merchandise trade balance
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-11.7
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-11.6
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-12.5
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-14.6
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-12.6
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-13.7
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Current account
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-3.6
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-6.0
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-5.2
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-5.8
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-4.4
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-4.6
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Capital and financial account (incl. errors and omissions)
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5.4
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5.1
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1.7
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4.7
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4.2
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4.5
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Foreign direct investment (net, in billions of US$)
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6.6
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6.8
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9.4
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8.8
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10.4
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9.4
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External debt 4/
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14.5
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16.8
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22.9
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31.6
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26.9
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28.7
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Gross international reserves (in billions of US$)
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19.5
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17.1
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22.0
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31.0
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29.0
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30.2
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In months of next year's imports of goods and services
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3.5
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3.1
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3.7
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5.4
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4.7
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5.1
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In percent of short-term external debt 5/
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280.6
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157.7
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283.1
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117.2
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390.0
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125.2
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Financing gap (in billions of US$)
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…
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0.0
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16.3
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0.0
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9.4
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1.9
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Memorandum items:
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Nominal GDP (in billions of Egyptian pounds)
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2,443.9
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2,708.3
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3,434.1
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3,496.0
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4,084.7
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4,464.6
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Nominal GDP (in billions of US$)
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332.5
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332.3
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…
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…
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…
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…
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GDP per capita (in US$)
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3,736
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3,684
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…
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…
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…
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…
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Unemployment rate (period average, percent)
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12.9
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12.7
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12.3
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12.6
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11.3
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11.8
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Poverty rate (percent)
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…
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…
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…
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…
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…
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…
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Population (in millions)
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89.0
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90.2
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92.3
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92.3
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94.4
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94.4
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Sources: Egyptian authorities; and IMF staff estimates and
projections.
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1/ Fiscal year ends June 30.
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2/ General government includes the budget sector, the
National Investment Bank (NIB), and social insurance funds.
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3/ Budget sector comprises central government, local
governments, and some public corporations.
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4/ Includes multilateral and bilateral public sector
borrowing, private borrowing and prospective financing.
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5/ Debt at remaining maturity and stock of foreign holding
of T-bills.
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6/ Reserve money as of end 2014/15 was affected by
cancellation of deposit renewals at CBE due to unexpected
announcement of national holiday on June 30, 2015.
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