Business Insider UK has named Egypt among the 32 most powerful economies by 2030, citing a PricewaterhouseCoopers (PwC) report titled ‘The Long View: How Will the Global Economic Order Change by 2050?’

The predictions are based on these countries’ projected GDP by purchasing power parity (PPP) by 2030. China leads the pack with a projected GDP by PPP of $38 trillion, with the US coming as a distant second at $23 trillion, and Egypt ranks 19th with a projected GDP by PPP of $2 trillion. According to the PwC report, Egypt’s economy will grow at an average rate of 5% between 2016 and 2020. The country’s GDP by PPP is projected to reach $4.3 trillion, and its population is estimated to grow to 151.1 million by 2050.

The findings also suggest a rise in startup activity as the cost of starting a business in Egypt is expected to fall.

Main Photo: Reuters.

You can view the full PwC report here.