11 May 2022

The EBRD (European Bank for Reconstruction & Development) has upgraded its forecast for Egypt’s GDP growth to 5.7% for the current FY21/22, up from a 4.9% projection made in November 2021. For FY22/23, the forecast is 5.0%. The forecasts appeared in the EBRD’s Regional Economic Prospects report. When the numbers are reconfigured to match calendar years, the forecasts become 3.1% for 2022 and 6% for 2023, making Egypt one of the highest growing countries in the SEMED (Southern & Eastern Mediterranean) region. The EBRD’s forecast for the entire SEMED region is 2.5% in 2022, revised down from a 4.3% projection made in November 2021. (Sources: EBRD (English), Amwal al-Ghad (English) (Arabic), al-Ahram (English) (Arabic), Daily News Egypt (English), State Information Service, al-Maal, al-Youm al-Saabe, al-Shurouk, Akhbar al-Youm)