Egypt’s gross domestic product (GDP) is predicted to rise between $10 billion and $18 billion as a result of a nearly seven-fold increase in its green hydrogen economy by 2050, according to an assessment by the country’s cabinet. Egypt ranked fifth in the Middle East and North Africa (MENA) in the green hydrogen index of Fitch Solutions for 2022. Egypt's GDP is predicted to rise between $10 billion and $18 billion as a result of a nearly seven-fold increase in its green hydrogen economy by 2050, as per an assessment by the country's cabinet. Egypt's green hydrogen plans make it one of most the promising countries in the field, with the potential to attract domestic and foreign investments, it said. The report reviewed the most important legislative framework promoting green hydrogen projects in countries such as Germany, South Korea, the European Union, India, France, Chile and the United States, according to Egyptian media reports.

Source: The North Africa Journal July 27, 2023 03:27 UTC