Egypt achieves 6.2% growth in FY 2021/22

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

Newspaper Number:

Thursday - 7 July 2022

The Egyptian economy achieved a growth rate of 6.2% during the fiscal year (FY) 2021/2022 ended in June, Minister of Planning and Economic Development Hala El-Said told CNBC Arabia on June 5th.

All sectors have achieved positive growth, El-Said added.

The minister noted that the State Ownership Policy Document is undergoing a social dialogue in preparation for its actualization.

El-Said noted that exiting public sector companies will not be conducted only through sales, but will also include granting usufruct and management rights.

Earlier in June, Fitch Solutions expected that growth of the Egyptian economy to slow down to 4.4% in fiscal year (FY) 2022/2023 due to inflation and slow recovery in both public investment and tourism.