Economic Forecast
Egypt's economy is on a recovery trajectory, it noted, adding that the pace has been slower than anticipated, partly due to regional geopolitical tensions and trade disruptions in the Red Sea.
In the IMF’s latest World Economic Outlook report released on Tuesday, the fund revealed that Egypt recorded a real GDP of 3.8 percent in FY2023/2024, 1.1 percent higher than the IMF's earlier projection of 2.7 percent in July.
The forecast was lowered “due to weak manufacturing activity, import restrictions, a downturn in gas extraction operations, and reduced shipping through the Suez Canal”.
On a calendar-year basis, Egypt's economy is projected to grow by 3.2 percent in 2024, with an optimistic increase to 4.5 percent in 2025.
The investment minister also disclosed that they anticipate a growth rate of 5.5 percent in the coming FY, with projections at 6.5 percent by 2030
Following the competition of its 3rd review of Egypt’s extended fund facility (EFF), the International Monetary Fund (IMF) revised its forecast for Egypt’s growth rate, projecting a 4 percent for FY2024/2025 with inflation to fall below 15 percent.
This forecast is only slightly below the International Monetary Fund’s (IMF) expectations of 4.1 percent after its latest revision, followed by the World Bank and Egypt’s own forecast of 4.2 percent
Globally, growth projections remain stable at 3.2 percent for 2024 and 3.3 percent for 2025
