Economic Growth
The forecast was lowered “due to weak manufacturing activity, import restrictions, a downturn in gas extraction operations, and reduced shipping through the Suez Canal”.
She noted that in spite of the anticipated economic growth deceleration in 2024 due to Middle East conflicts, the rate is projected to surpass regional average.
The IMF stated during a press conference, Tuesday, as part of the World Economic Outlook report, that the Egyptian economy achieved a growth rate in gross domestic product (GDP) of 3.8 percent during 2023.
Conversely, the bank has lowered its expectations for Egypt's economic growth during the current year to 2.8 percent from its previous estimates of 3.5 percent.
From Fitch Solutions’ most optimistic view of Egypt’s growth to the lowered expectations of the IIF, a diverse range of forecasts paints a complex picture of the country’s potential growth in the coming year as the country faces numerous external geopolitical and economic shocks.
he Egyptian economy continued to grow during the second quarter of the current fiscal year by 3.9 percent, despite the global economic situation and the state of uncertainty imposed by global economic and geopolitical challenges and changes.
The center said that many developments took place in 2022 in spite of the international crises that cast a shadow on various economies.
The government investments include (investments of the state administrative apparatus, investments of local administration, investments of public service bodies).
This review shows indicators of Egypt’s economic growth rates before and after the Russian war on Ukraine.
El-Said added that the growth rate in Egypt amounted to 9 percent in the first half of the fiscal year.
The Media Center of the Cabinet released Saturday the figures.
Egypt’s President Abdel Fattah El Sisi directed officials to ensure that achieving balance between population and economic growth rates is the major objective of the national project to develop the Egyptian family.
Chinese Ambassador to Cairo Liao Liqiang said that the International Monetary Fund (IMF) expected Egypt’s economic growth will hit 3.6 percent despite the repercussions of due to the impact of the Coronavirus pandemic.
Egypt achieved its best economic growth in 11 years, despite the global economic slowdown and international and regional instability, President Abdel Fattah El Sisi said Friday.
This came during her speech at the opening session of the fourth edition ofAl-Sadat Academy for Management Sciences' conference, entitled "From Economic Growth to Economic Happiness."
Imports and exports increased by 14 and 16 percent, respectively.
Investment and exports make up 74 percent of that growth.
Twelve-month median forecasts for their euro exchange rates changed little relative to a poll conducted a month ago.
The World Bank anticipated the gross domestic product to record 5 percent in 2018 and 5.5 percent in 2019, reaching 5.8 percent by 2020.
The dollar index gained 0.34 percent, with the euro down 0.27 percent to $1.2198. The Japanese yen firmed 0.55 percent versus the greenback at 106.73 per dollar.
Most Read
