(MENAFN) S. Africa, Nigeria and Egypt continue their struggle to become the largest economy in Africa, while S. Africa recently moving back to first place.
Moreover, the US dollar value of S. Africa GDP reached USD301bn, whereas Nigeria GDP stands at USD296bn and Egypt at USD270bn.
Accordingly, the informal sector in Egypt is estimated to be 65-70 percent of the formal economy, accounting for EGP1.2tr to 1.7tr.
In addition, Egypt is predicted to see a 4.4 percent increase this year, despite soft business sentiment, foreign currency lack and a severe tourism contraction.
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