Growth rate

World Bank raises its growth forecast for Egyptian economy to 4.2% in 2024/25

Mon, 15 Apr 2024 - 04:24 GMT

Conversely, the bank has lowered its expectations for Egypt's economic growth during the current year to 2.8 percent from its previous estimates of 3.5 percent.

PM: Egypt aims to achieve a growth rate of 15-20 percent in annual exports

Sat, 30 Mar 2024 - 03:05 GMT

The Prime Minister concluded, during an inspection tour of several factories in the 10th of Ramadan industrial city, approximately 55 km from Cairo on the Cairo-Ismailia Desert Road, on Saturday, that Egypt's economy will return to normal by the end of this year.

IMF expects Egyptian economy's growth rate to rise to 4.5%

Sat, 30 Mar 2024 - 12:00 GMT

The International Monetary Fund (IMF) said that the growth rate of the Egyptian economy reached 3.8 percent during the last fiscal year 2022-2023 and will reach 3 percent during the current fiscal year 2023-2024, expecting the growth of Egypt’s economy to rise to 4.5 percent in the next fiscal year 2024-2025.

IMF lowers growth outlook for Egypt in FY2023/24 to 3%

Tue, 30 Jan 2024 - 01:33 GMT

The IMF expected, in the "World Economic Outlook Update January 2024" issued on Tuesday, the Egyptian economy to grow by 3 percent during the current fiscal year, compared to previous expectations in October of a 3.6 percent growth.

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.