29 Mar 2022

The Egyptian government has lowered its GDP growth forecast for FY21/22 from 6.4% to 5.7%, and for FY22/23 from 5.7% to 5.5%. This comes in light of the significant negative global economic repercussions of the Russia-Ukraine conflict. Current government efforts are aimed at expanding the size of the real economy, which includes industry, agriculture, communications and information technology, to represent 35% of the total Egyptian economy. It is worthy to note that GDP growth in 1H21/22 reached an impressive 9%.

(Source: al-Ahram (English), Egypt Today (English), al-Maal, Mubasher, Amwal al-Ghad, al-Youm al-Saabe, al-Watan, Masrawy)