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Cairo –The World Bank raised its growth expectations for Egypt's economy by 0.2% to 5.5% in the fiscal year 2018/2019.
The Washington-based financial institution also increased its forecasts for the North African nation's economy to grow 5% during this year, according to the Global Economic Prospects Report (PDF).
“Egypt is anticipated to grow 5% in Fiscal Year 2017/18.. and 5.5% the following fiscal year,” the report showed. Egypt's fiscal year begins on 1 July and ends on 30 June.
By 2020, the World Bank projected the Arab world's most populous country's economy to advance 5.8%.
Source: Mubasher
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