Egypt upgrades GDP growth forecast for 2 FYs

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Egypt has upgraded its GDP growth target for the next FY of 2024/2025 to 5%, up from a previous estimate of 4.7%

Staff Writer, Arab Finance

September 21, 2023

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The Egyptian government has raised the state’s gross domestic product (GDP) growth target to 4.4% for the current fiscal year (FY) 2023/2024, from a previous projection of 4.1%, CEO of General Authority for Investment and Free Zones (GAFI) Hossam Heiba told Asharq Business on September 20th.

Moreover, he added that Egypt has upgraded its GDP growth target for the next FY of 2024/2025 to 5%, up from a previous estimate of 4.7%.

This upgrade in Egypt’s economic growth target has been backed by the real estate and infrastructure sectors, he pointed out.

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