Middle East & North Africa Economics

Middle East Economic Updates
21 May, 2012

Egypt’s economy disappoints in Q1

The pick-up in Egypt’s GDP growth from 0.4% y/y in Q4 to 5.2% y/y in Q1 was flattered by favourable base effects. Indeed, on a seasonally adjusted basis, we estimate that output contracted by 1.4% q/q during the first quarter....

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