Egypt is considered the third best country in terms of growth rates during the last fiscal year despite the Corona pandemic, which affected the global economic slowdown, indicating that the growth rate reached 3.6 percent, and 5.6 percent was targeted.
The unlicensed markets are those that are neither monitored by the government nor taxed, and whose output is not counted in the GDP.
That was during her participation via videoconferencing in the symposium on "Sustainable Development Goals after the Coronavirus Pandemic" organized by Bibliotheca Alexandrina.
Kamali clarified the importance of having accurate data, available regularly and not late so that decision-makers can take correct evidence-based policies.
Molla added in his statement to the House of Representatives, that the contribution of the mining sector to the GDP is "insignificant", and does not exceed half a percent only, which does not reflect the real capabilities of this sector.
The Ministry of Planning and Economic Development showcased in a statement Tuesday the views of the International Monetary Fund (IMF) and the Institute of International Finance (IIF).
For the 100 million Egyptians to feel the impact of development programs accomplished, our annual GDP must be $100 trillion which is beyond our capacity, President Sisi added.
The perception of international institutions is still positive towards the Egyptian economy, minister of planning highlights.
IMF also praised Egypt's proactive and targeted response to the economic repercussions of the Coronavirus.
Five sectors will majorly contribute in such improvement.
The International Air Transport Association (IATA) indicated - in a report - that demand on international aviation declined in October on yoy basis.
The statements came in the second edition of the 2020 Economic Summit for Egypt.
The Cabinet's Information and Decision Support Center (IDSC) issued an infographic tackling the choice of Egypt to enter the FutureBrand Country Index classification. The index includes 75 countries worldwide according to the GDP as per the latest World Bank rankings.
The report speculates that the world can possibly experience a "lost decade."
It also anticipated the Egyptian economy to hit a growth rate of 5.8 percent in 2022/2023, which matches the International Monetary Fund (IMF).
In one of the 2020 Annual Meetings of the International Monetary Fund and the World Bank Group, Minister of Finance Mohamed Mait displayed figures on the performance of the Egyptian economy during the COVID-19 crisis and plans for the future.
The debt-to-GDP ratio was estimated at 108 percent on June 30, 2017, Maait said.
IMF clarified that this percentage came as the global recovery is now expected to be more gradual and domestic activity is projected to remain weak for longer.
The Minister of Finance added that the ratio of public debt is expected to decline to 86.2% of GDP in June 2020, compared to 90.4% of GDP in June 2019, 108% of GDP in June 2017 and 95.1% in June 2014.
The minister said internal trade is one of the biggest sectors in Egypt that provides many jobs but it still suffers from an inadequate infrastructure.