Growth rate

Egypt’s real growth rate for FY2022/2023 recorded at 3.8%, Planning Minister

Thu, 02 Nov 2023 - 06:58 GMT

The government’s target for the next fiscal year (FY2023/2024) is set at 4.2 percent, she stated during a cabinet meeting chaired by the Prime Minister on Thursday

IMF lowers Egypt's 2023/2024 growth forecast to 3.6%, expects 4.2% for 2022/23

Tue, 10 Oct 2023 - 11:41 GMT

The IMF anticipates that consumer prices in Egypt will increase from 13.2 percent in the fiscal year ending in 2022 to 35.7 percent 2022/2023, followed by a decrease to 25.9 percent in 2023/2024.

Egypt seeks to increase industrial production to LE 4.3 trillion in FY 23/24

Wed, 28 Jun 2023 - 06:45 GMT

In its report, the Industry Committee confirmed that the industrial sector is one of the leading sectors in increasing productivity and labor absorption capacity, and growing export capabilities.

Egypt achieves highest growth rate at 6.6% since 2008: Finance Minister

Mon, 29 Aug 2022 - 04:32 GMT

Maait added Monday during a conference to review the financial performance indicators for the current fiscal year budget (2022/2023) that the unemployment rate fell to 7.2 percent in June 2022 by providing 826,000 jobs.

World Bank raises its forecast for Egypt's economic growth to 6.1% in 2022

Tue, 07 Jun 2022 - 05:49 GMT

The bank had raised its forecast in April by 0.3 percent to reach 5.6 percent in January.

Egypt's economy records growth rate of 7.8% in 9 months with expectations to hit 6.2% during 21/22

Thu, 26 May 2022 - 04:06 GMT

El-Said noted during thh cabinet meeting that the growth rate during the third quarter of the current fiscal year (January - March 2022) reached 5.4 percent.

IMF raises its forecast for growth of Egyptian economy to 5.9% in 2022

Tue, 19 Apr 2022 - 03:30 GMT

In its latest World Economic Outlook issued Tuesday, the IMF expected that Egypt's gross domestic product (GDP) in 2023 would grow by 5 percent.

Egypt achieves growth rate of 8.3% during Q2 of 21/22

Tue, 22 Feb 2022 - 04:09 GMT

El-Said explained that the growth rate during the first half of the current fiscal year reached 9 percent, adding that the growth rate is expected to reach between 6.2 percent to 6.5 percent by the end of this year, to be one of the highest growth rates that were expected, as it exceeded the expectations of international institutions for growth rates during this year.

Growth rate of FY 2021-22 to exceed expectations of int'l institutions - min.

Thu, 17 Feb 2022 - 02:21 GMT

In a press conference held by Prime Minister Mostafa Madbouli on Wednesday, the minister said that the government expects the growth rate to reach 6.2-6.5 percent instead of 5.4-5.6 percent.

PM says Egypt's economy recovers, growth rate expected to hit 6% this year

Wed, 16 Feb 2022 - 05:26 GMT

It means that the average growth rate for the first half of the year, from July to December, hit 9%, the premier said in a press conference following the government meeting held at the New Administrative Capital.

Egypt "only oil-importing country" to achieve positive growth rate

Wed, 26 Jan 2022 - 01:53 GMT

Maait pointed out that despite the sharp rise in oil prices and shipping costs, as a result of the good management of the repercussions of the post-pandemic outbreak, as well as the positive economic performance.

Egypt targets growth rate of 5.7% in 2022/23, 6% in 24/25

Wed, 05 Jan 2022 - 12:31 GMT

Maait added that the draft budget for the fiscal year 2022-2023 will witness greater spending on improving people's lives and facilitating decent livelihoods, in implementation of presidential directives.

Egyptian economy records highest quarterly growth rate in 20 years - cabinet

Mon, 29 Nov 2021 - 03:59 GMT

This came in an infographic report published by the Information Center under the title of "The Egyptian economy records the highest quarterly growth rate in 20 years".

Egypt targets growth rate of 5.4%, deficit reduction to 6.7% in 21/22

Mon, 18 Oct 2021 - 03:03 GMT

The minister explained that Egypt seeks to sustain the downward path of debt rates to GDP by adopting the implementation of a public debt management strategy based on diversifying sources of financing and issuing “dollar” bonds, “Eurobond” bonds, “green” bonds, and “sustainable development” bonds and sukuk.

IMF raises its forecast for Egyptian economy growth to 3.3% in 2021

Tue, 12 Oct 2021 - 04:17 GMT

The report expected an increase in GDP growth rates in Egypt during 2022 to reach 5.2 percent, and then 5.8 percent in 2026.

Egypt targets 5.4% growth rate in FY 2021/22 - minister

Thu, 12 Aug 2021 - 01:45 GMT

The country seeks to contain the rate of inflation to settle at 6 percent, unemployment at 7.3 percent and poverty at 28.5 percent, she said.

IDSC: Growth rate expected to hit 4.4% in FY 2021/22

Tue, 13 Jul 2021 - 12:42 GMT

The report highlighted a positive projections for the Egyptian economy till the Fiscal Year 2023/2024 after overcoming the impact of the first year of the coronavirus pandemic along with a positive growth due to a rise in exports and revenues of commodities and services.

IMF expects Egypt to achieve growth rate 5.2% in 2021

Wed, 30 Jun 2021 - 03:02 GMT

“For the fiscal year 20/21, we still expect a growth of 2.8 percent, and we see that the recovery has begun with expectations of a stronger revival in the next fiscal year, reaching growth to 5.2 percent."

EBRD expects Egypt's economy to grow 4.2% in 2021

Tue, 29 Jun 2021 - 01:59 GMT

According to EBRD's report, it predicted that growth would decline during the fiscal year 2020/2021 to reach 2.5 percent, with expectations that it would rise during the new fiscal year 2021/2022 to reach 4.5 percent.

Growth rates of Egyptian economy to reach 5% in 2021: Executive Director of IMF

Wed, 09 Jun 2021 - 04:12 GMT

"The Middle East region has lost 5 percent of its growth rates due to the pandemic, amid expectations that it will reach 1 percent and increase to 3 percent within two years, which are positive rates, but not high rates," Mohieldin stated.