ArabFinance: The Egyptian Ministry of Planning and Economic Development has raised its growth forecast for the Egyptian economy in fiscal year (FY) 2021/2022 to over 6%, versus the previous forecast of 5.6%, planning minister Hala El Saeed said in an interview with Bloomberg Asharq.

The quarterly growth divs of FY 2021/2022 are better than the forecast, El Saeed added, pointing out that the actual divs will be announced by mid-February.

The minister has not mentioned the sectors that might have impacted the increase in the economic growth forecast for FY 2021/2022.

It is worth noting that Egypts economy recorded a growth rate of 2% during the second quarter (Q2) of FY 2020/2020 and around 1.35% in the first half (H1) of the same FY.

Egypt's draft budget for FY 2022/2023 targets economic growth of 5.7%.

Copyright 2022 Arab Finance Brokerage Company All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an as is and as available basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.