IMF expects Egypt to achieve growth rate 5.2% in 2021

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Wed, 30 Jun 2021 - 03:02 GMT

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Wed, 30 Jun 2021 - 03:02 GMT

International Monetary Fund (IMF) - REUTERS

International Monetary Fund (IMF) - REUTERS

CAIRO - 30 June 2021:Head of the International Monetary Fund's mission to Egypt, Celine Alar, expected that the Egyptian economy will achieve a growth of 2.8 percent in 2020-2021, and that the recovery phase has already begun, with a stronger rise expected in the next fiscal year with growth rates of up to 5.2 percent.

 

Alar stressed that the economic recovery in Egypt And the world is still tainted by a state of “uncertainty” due to the pandemic, saying: “For the fiscal year 20/21, we still expect a growth of 2.8 percent, and we see that the recovery has begun with expectations of a stronger revival in the next fiscal year, reaching growth to 5.2 percent, but the recovery remains tainted by a state of “uncertainty” due to the “pandemic” conditions, not only in Egypt, but throughout the world, so it will be important to pay attention to the weak point."

 

The head of the International Monetary Fund’s mission to Egypt, in a TV interview, praised the Egyptian government’s handling of the Corona pandemic crisis, stressing that Egypt was able to manage the crisis well, following wise policies taken at the right time, saying: “I can say that the Egyptian authorities managed the effects of the pandemic well, especially the social impact of the crisis, as they implemented wise and timely policies by providing financial and monetary support with the vision of supporting the economy while maintaining economic stability, and this was a very important balance.

 

“In addition to taking practical measures, including providing financial allocations for the health aspect in order to combat the pandemic, in addition to providing support to the most affected sectors such as the tourism sector, as well as providing social protection for the poor and the most affected segments and classes. At the same time, it maintained economic stability, rebuilt reserves, and also maintained investor confidence,” She added.

 

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