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Egypt: ICTs’ contribution to GDP grew 3% in the last 9 months

Thursday, 20 June 2019 13:08
Egypt: ICTs’ contribution to GDP grew 3% in the last 9 months

(Ecofin Agency) - The contribution of Information and Communications Technologies to Egypt’s GDP went up 3% from 15 to 18% in the last 9 months. This was reported last week by the sector’s manager Amr Talaat (photo), during the annual conference Tech Invest 3.

According to the minister, it is possible that the figure reaches 19% by the end of FY2019, making a total growth of 4%. He says his ministry is actively working to increase ICTs’ contribution to GDP by 8 points over the next three years.

If the goal is achieved (27% of GDP by 2022), Egypt would be close to hitting its ambition of becoming a regional technology hub. Mr Talaat explained that the export of digital services has reached $3.67 billion since the ongoing financial year started with growth expected to reach 12% and 14% respectively in 2020 and 2021.

Let’s note that the Tech Invest 3 forum is organized by the General Division of Digital Economy and Technology of the General Federation of Chambers of Commerce under the theme “Investing in Egypt's Future Digital Economy.”





 
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