02 Sep 2021

The Minister of Planning & Economic Development revealed that GDP growth for 4Q20/21 registered an astounding 7.7% despite the persistence of the Covid pandemic which is having negative economic repercussions around the world. 4Q19/20 had witnessed a 1.7% contraction, when the pandemic was at its height. Initial estimates for FY20/21 GDP growth are at 3.3%. The government expects GDP growth for FY21/22 to reach 5.4%.

(Source: Reuters (English), Financial Post (English), Amwal al-Ghad (English) (Arabic), al-Maal, Mubasher, Economy Plus Me, Akhbar al-Youm, CNBC Arabia, al-Arabiya)