|23 January, 2020

Egypt’s ICT sector contributes $5.89bln to GDP in 2018/19

Internet in Egypt witnessed a great breakthrough

Egyptians work on computers in cafe in Cairo. Reuters/Aladin Abdel Naby. Image used for illustrative purpose.

Egyptians work on computers in cafe in Cairo. Reuters/Aladin Abdel Naby. Image used for illustrative purpose.

Cairo – Mubasher: Egyptian information and communications technology (ICT) sector has contributed around 4% of GDP during the fiscal year 2018/2019, deputy telecom minister Ghada Labib stated on Thursday, according to the Middle East News Agency.

The sector’s contribution to the GDP increased by 16.6% year-on-year to EGP 93 billion in FY18/19, Labib revealed.

Egypt’s total ICT exports reached $3.6 billion, the top official said, adding that the sector grew by 16% during the first sector of FY19/20.

Labib noted that internet services in Egypt have witnessed a great breakthrough, adding that Egypt rose 34 places to take the 97th place in the Speedtest Global Index in December 2019.

Source: Mubasher

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