24 Jul 2022

A recent poll of 19 economists conducted by Reuters found they expect Egypt’s economy to grow at a steady pace over the next three years. Also, inflation is expected to decline gradually and the Egyptian Pound will probably lose some value in the short-term horizon.

The median GDP growth rate predicted by economists is 5.5% for FY22/23, which is up from a 5.2% forecast three months ago. In FY23/24, growth is expected to be 4.9%, and then to accelerate again to 5.4% in FY24/25. Note that the Egyptian economy grew at an impressive rate of 6.2% in FY21/22. Economists also predicted that inflation will decelerate to 10.0% in FY22/23, rise to 10.4% in FY23/24, and then drop to 8.0% in FY24/25. (Sources: Reuters (English), al-Sharq al-Awsat (English) (Arabic), al-Maal, Amwal al-Ghad, al-Youm al-Saabe, al-Watan, al-Dustour, Akhbar al-Youm, Sada el-Balad, al-Arabiya, Sky News Arabia)