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The Egyptian economy will rise to the seventh rank in the world, ahead of all European economies
Dubai – Al Arabiya.net
Posted on: July 12, 2023: 05:00 PM GST Last updated: July 12, 2023: 06:26 PM GST
The US investment bank, Goldman Sachs, predicted that China would become the largest global economy before 2075, with an estimated GDP of $57 trillion, while India would overtake the United States to become the second pole in the global economy, with a GDP of $52.5 trillion. Bypassing the United States, which will come in third place with a total output of $51.5 trillion.
However, the other side of the report sees a major change in the largest global economies, which will be rearranged again, as the Egyptian economy will rise to seventh place in the world, ahead of all European economies with a gross domestic product exceeding $10 trillion, according to what was seen by Al Arabiya.net. “.
While Indonesia, Nigeria and Pakistan will be the owners of positions from fourth to sixth in the global ranking, while Germany, the largest European economy, will remain in ninth place in the world, behind Brazil.
The report did not reveal major growth spurts, as it predicted that the Egyptian economy would rank 12th in the world by 2050 with a GDP near $3.5 trillion, while it would be equivalent to a third of the size of the eurozone economy ($30.3 trillion) by 2075.
The report indicated that the population growth rate will be the driver of growth in the economies of Nigeria, Pakistan and India during those years.
In its report on the Egyptian economy in May, Fitch Ratings expected its volume to double to EGP 16 trillion from about EGP 8.5 trillion over the next three years.
Here is the ranking of the world’s 10 largest economies by 2075, according to Goldman Sachs:
China: $57 trillion
India: $52.5 trillion
United States: $51.5 trillion
Indonesia: $13.7 trillion
Nigeria: $13.1 trillion
Pakistan: $12.3 trillion
Egypt: $10.4 trillion
Brazil: $8.7 trillion
Germany: $8.1 trillion
Mexico: $7.6 trillion
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2023-07-12 13:00:00
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