14 Nov 2021

 

In its most recent Arab Economic Prospects report, the AMF (Arab Monetary Fund) expected that Egypt’s GDP growth will reach 5.4% in 2022. Their forecast is contingent on the global economic recovery from the Covid pandemic, which should increase tourism revenues and demand for Egyptian exports.

The report referred to Egypt’s ability to achieve positive economic growth during the pandemic, a feat that only a few countries were able to accomplish worldwide. They attributed this growth to the continuous and comprehensive economic reforms that have been implemented, as well as the reforms that are yet to come. Coupled with the swift and targeted stimulus measures implemented by the government during the pandemic, these factors allowed the Egyptian economy to triumph over the pandemic’s negative economic effects with its strength and resilience.

(Source: Arab Monetary Fund, al-Ahram (English))