Egypt’s economy to achieve 6.2% growth in FY 2021/22: AMF report

Newspaper Title: https://www.zawya.com/

Newspaper Number:

Wednesday - 24 August 2022

The Egyptian growth domestic product (GDP) is expected to grow 6.2% during the fiscal year (FY) 2021/2022 and around 5.5% in FY 2022/2023, according to the Arab Monetary Fund’s (AMF) Arab Economic Outlook report for August.

The inflation rate in Egypt is expected to reach around 8.5% in 2022 to decline later to about 7.2% in 2023.

A group of factors will affect inflation in Egypt including the monetary policy and interest rates decision of the Central Bank of Egypt (CBE), the fluctuations in global supply chains, and the increase in energy and food prices, the report highlighted.

On July 26th, the International Monetary Fund (IMF) downgraded its projections for Egypt’s real gross domestic product (GDP) growth in fiscal year (FY) 2022/2023 to 4.8%.