FILE – The World Bank
Egypt’s economic outlook in World Bank’s report
Wed, Apr. 10, 2019
CAIRO – 10 April 2019: The World Bank issued earlier in April a report about the economic outlook for the Middle East and North Africa region including Egypt.
Egypt Today reviews the most significant economic indicators for Egypt in the report, which are:
- The bank expected Egypt to achieve a growth rate of 5.5 percent during 2019, marking the second highest growth rate in the Middle East and North Africa region behind Djibouti, which tops the forecasts by 7 percent.
- It foresaw Egypt’s growth rate to hit 5.8 percent in 2020 and increase to 6 percent in 2021.
- The World Bank’s report also expected real GDP per capita growth to record 3.7 percent in 2019, 4 percent in 2020, and 4.3 percent.
- It anticipated current account balance to reach -2.5 percent of GDP in 2019, and -2.6 percent in 2020, returning back to -2.5 percent in 2021.
- It thought that Egypt’s fiscal balance would record -8.6 percent, -7.5 percent, and -7 percent of GDP in 2019, 2020, and 2021, respectively.
- Egypt will be one of the top performers among MENA oil importers, with a growth rate forecast at 5.5 percent for 2019, the strongest since 2008, according to the report.
- The bank also noted that the state’s primary fiscal balance is expected to reach a surplus of 1.8 percent of GDP in 2019.
- The report referred that oil importers, as a group, are expected to grow 4 percent in 2019, up from a 3.8 percent growth in 2018, referring that tourists flocked back to the region, especially to Egypt and Tunisia.
- It stated that the uptick in tourism helped to modestly reduce trade imbalances and current account deficits.
Egypt Today reviews the most significant economic indicators for Egypt in the report, which are:
- The bank expected Egypt to achieve a growth rate of 5.5 percent during 2019, marking the second highest growth rate in the Middle East and North Africa region behind Djibouti, which tops the forecasts by 7 percent.
- It foresaw Egypt’s growth rate to hit 5.8 percent in 2020 and increase to 6 percent in 2021.
- The World Bank’s report also expected real GDP per capita growth to record 3.7 percent in 2019, 4 percent in 2020, and 4.3 percent.
- It anticipated current account balance to reach -2.5 percent of GDP in 2019, and -2.6 percent in 2020, returning back to -2.5 percent in 2021.
- It thought that Egypt’s fiscal balance would record -8.6 percent, -7.5 percent, and -7 percent of GDP in 2019, 2020, and 2021, respectively.
- Egypt will be one of the top performers among MENA oil importers, with a growth rate forecast at 5.5 percent for 2019, the strongest since 2008, according to the report.
- The bank also noted that the state’s primary fiscal balance is expected to reach a surplus of 1.8 percent of GDP in 2019.
- The report referred that oil importers, as a group, are expected to grow 4 percent in 2019, up from a 3.8 percent growth in 2018, referring that tourists flocked back to the region, especially to Egypt and Tunisia.
- It stated that the uptick in tourism helped to modestly reduce trade imbalances and current account deficits.
