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

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World Bank Expects 6.1% Growth to Egyptian Economy in 2022
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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