CAIRO: Egypt's Gross Domestic Product (GDP) saw an unprecedented decrease of 4.2 percent during the third quarter of the 2010/2011 fiscal year, according to a recent report by Egypt's Ministry of Planning. The report indicates that Egypt's January 25 Revolution and the disorder, chaos and thuggery which followed it caused partial stop of the production wheel and harmed Egypt's economic interests. International markets were also harmed by the ongoing Arab uprisings in Libya, Yemen, Syria, and Bahrain. The report expects another economic crisis. The report also revealed that tourism is gradually increasing, which may help restore Egypt's GDP growth. The report indicates that the development plan of 2011/2012 includes 40 billion EGP (U.S. $6.7 billion) for government investment to support human development, education, scientific research, health, and education. The biggest priority of the new development plan is free education. Free education is allocated 30 percent more than in 2010/2011. The new plan also allocates 40 percent more for agriculture than last year's plan. Egypt's 2010/2011 GDP was the lowest it has seen. Growth is not expected to exceed 2.6 percent in the next fiscal year.
