Cairo –  The International Monetary Fund (IMF) expects the Egyptian economy to be among the top 30 economies worldwide that represent 83% of the world’s gross domestic product (GDP), the Middle East News Agency (MENA) reported on Wednesday.

China and Egypt are forecast to succeed in achieving economic growth during 2020 despite the current economic and health challenges, according to the IMF’s world economic outlook report.

Developed economies are seen to shrink by 8% this year while emerging and developing economies are forecast to contract by 3%.

The US economy is expected to contract by 8% this year, so are the economies of Japan (-5.8%), the UK (-10.2%), Germany (-7.8%), France (-12.5%), Spain and Italy with -12.8% each.

Source: Mubasher

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