IDSC: 4.4% expected growth in Egypt’s economy this fiscal year

CAIRO – 13 July 2021: The Information and Decision Support Center (IDSC) at the Egyptian Cabinet published an infographic that includes the most prominent points addressed in the Economist’s Outlook report on Egypt, issued in June 2021.

IDSC said that 4.4 percent is the expected growth rate of the Egyptian economy during the current fiscal year, due to the increase in global demand and energy projects.

The report monitors positive expectations for the Egyptian economy until the fiscal year 2023/2024, after passing the first year of the Corona pandemic and its negative repercussions, accompanied by positive expectations also for the development of growth rates for exports and imports of goods and services.

The Economist further expects exports of goods and services to grow at a rate of 13.5 percent in the current fiscal year 2021/2022, compared to a growth rate of 8.5 percent in 2020/2021, and -21.7 percent in 2019/2020.  This remarkable improvement in exports and imports of goods and services leads to expectations of further improvement during the current fiscal year 2021/2022.

The report also stated that the energy and construction sectors will remain the main engine of the economy in the coming period, and also expected the recovery of tourism, exports, and other services sectors.