The Egyptian economy achieved a growth of 4.4% during the first quarter (Q1) of the fiscal year 2022/2023 despite the challenges imposed by three global events; the Covid-19 pandemic, the Russian-Ukrainian crisis, and the undesirable climate changes, the Minister of Planning and Economic Development, Hala El-Said, revealed according to an official statement on November 28th.
El-Said revealed that the top seven sectors contributing to the GDP were agriculture, retail and wholesale, restaurants and hotels, construction and building, which recorded 0.7, 0.6, 0.5, and 0.4 points, respectively.
Real estate, social services, and telecommunications and information contributed 0.4 points each to the GDP in Q1 2022/2023, she added during a meeting with Prime Minister Mostafa Madbouly.
As for unemployment, El-Said noted that it edged higher to 7.4% in the three months that ended on September 30th.
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