Fall to LE199 billion due to drops in tourism, transport, construction and manufacturing caused by the revolution, says investment bank
Egypt’s real Gross Domestic Product contracted by 8.6 per cent quarter-on-quarter in 1Q2011, according to date from the Ministry of Economic Development.
Figures show real GDP contracted from LE217.6 billion in 4Q2010 to reach LE199 billion in 1Q2011.
A note from investment bank Beltone Financial said the overall fall in in real GDP was mainly due to a quarterly contraction in four significant sectors of the economy, namely: a 37.5 per cent fall in hotels and restaurants sector (a proxy for tourism); an 18.9 per cent one in transportation; 18.3 per cent in construction, and 13.6 per cent in manufacturing.
https://english.ahram.org.eg/News/15513.aspx