World Bank Expects 6.1% Growth to Egyptian Economy in 2022 ...Egypt

World Bank buildingPhoto via Ahram Online The Egyptian economy is expected to grow from 5.9 percent to 6.1 percent in the fiscal year 2021/2022, after “stronger-than-expected activity” in the first half. According to the World Bank’s Global Economic Prospects report released on Tuesday, 7 June, Egypt will see a 4.8 percent growth rate in the fiscal year 2022/2023. This is a 0.7 percentage point downgrade from the previous year, as tourism declines and inflation rises due to a number of factors, among them the Russia-Ukraine war. The report also reveals that Egypt’s growth will be supported by the gas extractives sector – as it benefits from elevated prices – remittances from Egyptians workin

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