Egypt’s economy to grow 5.2 percent in current fiscal: IMF

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  • FDI is forecast to rise to $8.6 billion this fiscal

  • The average inflation rate is seen at 6.6 percent this fiscal

Egypt’s economy is expected to grow 5.2 percent during the current fiscal, compared to a projected growth rate of 2.8% in the last financial year. This is the assessment of the International Monetary Fund that has forecast Foreign Direct Investment to rise to $8.6 billion in the ongoing financial year.

As for FY22/23, the country’s real gross domestic product (GDP) growth is projected to accelerate to 5.6%, according to a report by the IMF.

The average inflation rate is seen at 6.6% in FY21/22 and 6.8% in FY22/23.

Foreign direct investment (FDI) is forecast to rise to $8.6 billion in FY21/22, $11.7 billion in FY22/23, $14.9 billion in FY23/24, and $16.5 billion in FY24/25.

 

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