Egypt’s GDP drops to 4.9 percent in FY00/01
Egypt’s gross domestic product (GDP) dropped 4.9 percent during fiscal year 2000/2001, reported the Egyptian Central Bank. The commodity sector contributed to 49.7 percent of the national GDP, while the Industry sector contributed to 20.1 percent. The Egyptian fiscal year runs from July 1 to June 30.
The drop was attributed to a decrease in growth rates in the petroleum and hotel sectors, in addition to the impact of amendments in the indirect taxation system. Egypt’s GDP stood at 282 billion Egyptian pounds ($66 billion) during the 1999/2000 fiscal year. — (menareport.com)
© 2002 Mena Report (www.menareport.com)