Cabinet: Int'l institutions continue issuing positive reports about Egyptian economy

CAIRO - 13 December 2021: The Cabinet media center has said the state carried out an ambitious national program for economic reform hailed by international economic institutions.

In a report on Monday, the cabinet media center said the reform program managed to put an end to the decades-long economic problems in Egypt while the country's economic indices topped positive economic forecasts among Middle East and African countries.

The report pointed out that Egypt started to reap the fruit of the economic reform program despite world economic crises and challenges.

It said Egypt's rising growth rate and its success in luring local and international investments and promoting the economy's ability to overcome crises topped international institutions' reports amidst expectations of achieving more positive indicators in years to come.

It pointed out to reports issued by international economic institutions such as Bloomberg and Fitch about the growth in Egypt which is projected to stand in 2022 at (5.04 percent) placing it the second best in terms of achieving economic growth in the Middle East and North Africa region after Saudi Arabia (5.57 percent), while Kuwait will come third (4.97 percent), followed by Libya (4.58 percent), Oman (4.16 percent), the United Arab Emirates (4.15 percent), Qatar (4.14 percent) and Israel (4.11 percent).