Egypt
The 2019 Egyptian National Artificial Intelligence (AI) Strategy is a key catalyst for digital transformation in Egypt and supports the country’s sustainable development agenda. As North Africa’s biggest economy, Egypt faces a challenging economic and demographic context, including high inflation and a high youth unemployment rate. As the first Arab and African country to adhere to the OECD Recommendation on Artificial Intelligence in 2021, Egypt has made progress in implementing the OECD AI Principles. This country review explores the state of implementation of the OECD AI Principles in Egypt by providing a mapping of Egypt’s AI governance and policy implementation through gap analysis, comparative analysis, and benchmarking. It highlights key findings and recommendations to strengthen Egypt’s AI ecosystem and facilitate the development of inclusive, responsible, and human-centric AI policies and practices that support Egypt’s development agenda and stand the test of time.
This peer review report analyses the practical implementation of the standard of transparency and exchange of information on request in Egypt, as part of the second round of reviews conducted by the Global Forum on Transparency and Exchange of Information for Tax Purposes since 2016.
Egypt has 59 Egypt indicated in its response to the Peer Review questionnaire that the agreement between the Arab Republic of Egypt and the Council of Ministers of Serbia and Montenegro was inherited between Serbia and has been counted as two separate agreements. tax agreements in force as reported in its response to the Peer Review questionnaire. Thirty-four of those agreements comply with the minimum standard.
GDP growth will remain just under 4% this fiscal year, but is projected to pick up to 4.8% in FY 2024 and 5.1% in FY 2025. Egypt faces high inflation and balance of payments difficulties, but fiscal support has sustained private consumption, which will gradually gain momentum as inflation moderates. In contrast, business investment has contracted sharply due to tighter financial conditions and increased uncertainty, and is projected to recover only gradually.
La croissance du PIB restera légèrement inférieure à 4 % au cours de cet exercice budgétaire, mais elle devrait se redresser pour s’établir à 4.8 % et 5.1 % au cours des exercices 2024 et 2025, respectivement. L’Égypte est confrontée à une forte inflation et à des difficultés de balance des paiements, mais des aides budgétaires ont étayé la consommation privée, qui montera peu à peu en régime à mesure que l’inflation se modèrera. En revanche, l’investissement des entreprises s’est fortement contracté en raison du durcissement des conditions de financement et de l’accentuation de l’incertitude, et il ne devrait se redresser que progressivement.
Egypt can legally issue the following three types of rulings within the scope of the transparency framework: (i) cross-border unilateral APAs and any other cross-border unilateral tax rulings (such as an advance tax ruling) covering transfer pricing or the application of transfer pricing principles; (ii) permanent establishment rulings; and (iii) related party conduit rulings.
At a time when global trade is under pressure and countries increasingly turn to regional integration to support their development, this Spotlight is a timely read for policy makers and business leaders in Africa and beyond. It shows how harnessing the African Continental Free Trade Area (AfCFTA) can support industrialisation in Egypt, and more widely in Africa, by tapping the full potential of regional supply chains, including renewable energies, pharmaceuticals, logistics and creative industries. This report builds on and enriches the Production Transformation Policy Review of Egypt: Embracing Change, Achieving Prosperity.
Alors que le monde est confronté à toute une série de chocs, l’économie égyptienne doit faire face à une crise du coût de la vie et à des ajustements de sa balance des paiements. La croissance économique a ralenti en 2022 et ne devrait se redresser que progressivement. Malgré les aides budgétaires, la consommation restera faible pendant un certain temps en raison de la forte inflation. Sur fond de conditions financières restrictives et d’incertitudes, l’investissement des entreprises restera atone, parallèlement à une réduction de la voilure dans l’investissement public. L’Égypte reste particulièrement vulnérable à toute variation brutale des flux de capitaux et aux fluctuations monétaires.
Against the backdrop of a series of global shocks, the Egyptian economy is facing a cost-of-living crisis and balance of payments adjustments. Economic growth slowed in 2022 and is projected to recover only gradually. Consumption will remain weak for some time due to high inflation, despite fiscal support. In the face of tight financial conditions and uncertainty, business investment will remain subdued, while public investment is being scaled back. Egypt remains particularly vulnerable to abrupt changes in capital flows and currency fluctuations.