|21 November, 2019

Egypt’s economy seen growing 5.8% in FY2020/21: Economist

Egypt's GDP has recorded remarkable growth levels

The minarets of Sultan Hassan Mosque and the Al-Rifa'i Mosque are seen as a traffic jam forms during a sandstorm in Cairo, Egypt January 6, 2019. Image used for illustrative purpose.

The minarets of Sultan Hassan Mosque and the Al-Rifa'i Mosque are seen as a traffic jam forms during a sandstorm in Cairo, Egypt January 6, 2019. Image used for illustrative purpose.

REUTERS/Amr Abdallah Dalsh

Cairo – Mubasher: The Economist expects Egypt’s economy to grow by 5.8% during fiscal year 2020/2021, up from 5.6% in FY18/19, the cabinet’s Information and Decision Support Center (IDSC) revealed.

Despite low global demand, the North African nation’s gross domestic product (GDP) has recorded remarkable growth levels when compared to other economies in the Middle East and North Africa (MENA) region in particular and the world in general, IDSC noted in a statement on Wednesday.

This improvement in GDP growth reflects the success of economic reforms that have been implemented since 2016.

Source: Mubasher

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