Key facts
- Egypt's non-oil private sector economy contracted in May.
- Higher input prices contributed to the downturn.
- A weakening Egyptian pound also played a role in the contraction.
Egypt's non-oil private sector experienced a contraction in May, a downturn attributed to surging business costs. Key factors driving this economic slowdown include elevated input prices and the depreciation of the Egyptian pound. The combination of these pressures has led to a decline in economic activity within the non-oil private sector.