09 Feb 2022

The World Bank released its Egypt Economic Monitor report, in which it forecast that the Egyptian economy will grow by 5.5% in FY21/22. This was evidenced by the resilience of the Egyptian economy in the face of the pandemic’s severe economic repercussions. The Bank attributed this resilience to macroeconomic stabilization policies, efficient public debt management, government digitization, energy sector reforms, and the attraction of international financing which kept foreign reserves at appropriate levels. Furthermore, monetary easing coupled with support for vulnerable sectors helped mitigate the pandemic’s negative economic effects on the economy. Also, financial inclusion initiatives and efforts to improve the business environment, such as easier customs clearing and business restructuring, provided much needed economic boosts.

(Source: World Bank (English) (Arabic), Zawya (English), al-Ahram (English), Daily News Egypt (English), Egypt Today (English), See News (English), Arab News (English), al-Maal, Mubasher, Hapi Journal, al-Youm al-Saabe, al-Shurouk, Masrawy, al-Arabiya)