The European Bank for Reconstruction and Development (EBRD) expects growth in Egypt to record 5.3 percent in 2018 and 5.5 percent in 2019, up from 4.3 percent in 2016 and 4.2 percent in 2017, with an increase of 0.8 percent.

 

This came at the Bank’s new Regional Economic Prospects report that includes the predictions of the economic trends in 37 economies across three continents, from Estonia to Egypt and from Morocco to Mongolia. 

The report expected a growth rate of 3.3 percent in 2018 in all 37 countries to record 3.2 percent in 2019. 
 

The EBRD’s Chief Economist, Sergei Guriev, said that the lower productivity growth reflected the fact that most EBRD economies had exhausted the growth levers that had delivered rapid expansion until the onset of the crisis. 

“In order to develop new sources of growth, these countries need to carry out structural reforms of product, capital and labor markets. They need to improve governance, promote integration into the global economy, and invest in human capital and sustainable infrastructure,” Guriev said. 

“The good news is that the current recovery provides a solid window of opportunity for such reforms,” he added. 
 

reported by Egypt today