Egypt is considered a developing country. A nation's level of development is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality and quality of life. As a developing country, Egypt may not be able to provide consistent social services to its citizens. These social services can include things like public education, reliable health care, and law enforcement. Citizens of developing countries can have a lower life expectancy than citizens of developed countries. Egypt exports about US$24.81 billion and imports about US$59.22 billion each year. 12.1% of the country's population is unemployed. The total number of unemployed in Egypt is 12,024,465. In Egypt, 25.2% of the population lives below the poverty line. The percentage of citizens living below the poverty line in Egypt is quite high, but not a cause for complete concern in terms of investment. Potential lenders should look at other economic indicators, including GDP, the rate of urbanization and the strength of the currency, before making investment decisions. Government spending on education is 3.8% of GDP. The country's Gini index is 30.8. Egypt is experiencing good equality. The majority of citizens in Egypt fall within a narrow income bracket, although some cases can show significant differences. Egypt has a Human Development Index (HDI) of 0.682. Egypt has an upper middle HDI value. This indicates that the majority of citizens will be able to lead a worthwhile life, although some citizens will not be able to achieve a high standard of living. The Global Peace Index (GPI) for Egypt is 2,382. The Strength Law Index for Egypt is 2. Overall, it is considered rather weak – bankruptcy and collateral laws fail to protect borrowers' and lenders' rights in the event of credit-related complications; Credit information, if any, is scarce and difficult to access.
Currency
The currency of Egypt is Egyptian pound. The plural form of the word Egyptian pound is pound. The symbol used for this currency is E£ and is abbreviated as EGP. The Egyptian pound is divided into piastre; there are 100 in a pound.
Credit rating
The credit rating depth index for Egypt is 8, which means that the information is mostly sufficient and fairly detailed; Accessibility is not a problem. According to the rating agency SP, Egypt has a credit rating of B- and the prospects for this rating are positive. According to the rating agency Fitch, Egypt has a credit rating score of B and the prospects for this rating are stable. According to the rating agency Moody's, Egypt has a credit rating of B3 and the prospects for this rating are stable.
Central bank
The key interest rate of the Egyptian commercial banks is 11.8. In Egypt, the institution that manages the state's currency, money supply, and interest rates is called the Central Bank of Egypt. Locally, the Central Bank of Egypt is called البنك المركزي المصري. The average interest rate on deposits offered by local banks in Egypt is 6.9%.
National debt
Egypt has a public debt equivalent to 45% of the country's gross domestic product (GDP) as estimated in 2014.
Tax information
Corporate tax in Egypt is 25%. Personal income tax ranges from 10% to 20% depending on your specific situation and income level. VAT in Egypt is 10%.
Finances
The total Gross Domestic Product (GDP) valued as Purchasing Power Parity (PPP) in Egypt is US$946591 billion. The gross domestic product (GDP) per capita calculated as purchasing power parity (PPP) in Egypt was last at 10 million dollars. PPPs in Egypt are considered below average compared to other countries. Below-average PPPs indicate that citizens in this country find it difficult to buy local goods. Local goods can include food, shelter, clothing, healthcare, personal hygiene, essential furnishings, transportation and communications, laundry, and various types of insurance. Countries with below-average purchasing power parities are dangerous locations for investments. The total gross domestic product (GDP) in Egypt is 255,199 billion. Based on this statistic, Egypt is considered as a big economy. Countries with large economies support a variety of industries and businesses and offer numerous opportunities for investment. Large economies support a significant financial sector, making it easy to organize investments and financial transactions. It should be very easy to find good investment opportunities in Egypt. The gross domestic product (GDP) per capita in Egypt was last at 3 million dollars. The average citizen in Egypt has very little wealth. Countries with very low wealth per capita often have lower life expectancies and a dramatically lower quality of life for their citizens. In countries with very low levels of prosperity, it can be very difficult to find a highly skilled workforce as it is difficult for citizens to obtain the education required for specialized industries. However, labor can be found at very low rates compared to countries with higher wealth per capita. The annual growth rate of GDP in Egypt averaged 2.2% in 2014.