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The GDP growth rate in the context of the World Development Indicators (WDI) refers to the annual percentage increase or decrease in a country's Gross Domestic Product (GDP), adjusted for inflation. The WDI is a comprehensive database maintained by the World Bank that tracks various economic, social, and environmental development indicators across the globe.
Key Takeaways
Egypt GDP Growth Rate by Year (1961-2023)
Egypt's GDP growth has undergone notable shifts influenced by domestic and global dynamics. The 1960s showcased peaks like 11.5% in 1964, followed by setbacks linked to the Six-Day War in 1967, resulting in -1.6% in 1968. Economic liberalization in the 1970s spurred rapid growth, with a striking 13.3% in 1976. The economy stabilized, yet global downturns and regional challenges maintained volatility.
The 2000s brought steady progress, averaging around 7% before the global recession. Post-2011 revolution, growth rates dipped significantly but rebounded, supported by reforms. Despite the pandemic slowing growth to 3.6% in 2020, recovery ensued, peaking at 6.6% in 2022, before easing to 3.8% in 2023, amid ongoing economic reform measures.
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