CAIRO - 13 July 2021: The Cabinet Information and Decision Support Center (IDSC) said the Egyptian economy growth rate is projected to hit 4.4 percent during the current fiscal year 2021/2022 due to an increase of the world demand and energy projects according to the Economist magazine.
This came in an infograph released by IDSC on Tuesday which included the main features the Economist report has tackled on its economic forecasts for Egypt.
The report highlighted a positive projections for the Egyptian economy till the Fiscal Year 2023/2024 after overcoming the impact of the first year of the coronavirus pandemic along with a positive growth due to a rise in exports and revenues of commodities and services.
The Economist also pointed out to a growth in the exports of commodities and services at 13.5 percent during the current fiscal year 2021/2022 compared with 8.5 percent in the previous FY 2020/2021.
The report also referred to a notable progress in exports and revenues of commodities which lead to better forecasts during the fiscal year 2021/2022, adding that the sectors of energy and construction would remain the basic propellers in the coming phase.
The report also expected a recovery of tourism, exports and other services in the coming phase.