ArabFinance: Egypt’s economic growth recorded 8.3% in the second quarter (Q2) of fiscal year (FY) 2021/2022, compared to a growth rate of 2% in Q2 FY 2020/2021, Minister of Planning and Economic Development Hala El Said stated in a press conference.
The state’s economic growth rate is expected to reach 6.2% to 6.5% by the end of the current fiscal year, El Said highlighted.
The growth domestic product (GDP) is projected to increase by EGP 582 billion to hit EGP 6.9 trillion by the end of FY 2021/2022, she noted.
In the first half (H1) of FY 2021/2022, the country’s economy grew by 9%, she remarked.
The GDP is forecast to grow 9.2% at the end of FY 2021/2022, the minister said.
It is worth noting that Prime Minister Mostafa Madbouli previously announced that Egypt’s economic growth recorded 8.3% in Q2 of FY 2021/2022.
Madbouli also noted that the country’s economy grew 9.8% in Q1 of the current fiscal year.