Egypt downgrades economic growth forecast to 3.5% in FY2023/24: Elsaid

Earlier this year, the minister announced that Egypt is targeting achieving economic growth of around 4.1% to 4.2% this year

Staff Writer, Arab Finance

December 4, 2023

PHOTO

The Egyptian government has downgraded its economic growth forecast for the fiscal year (FY) of 2023/2024 by 0.7% to 3.5%, Minister of Planning and Economic Development Hala Elsaid revealed in an interview with CNBC Arabia.

This forecast may increase or decrease a little based on the impact of the Gaza-Israel war, Elsaid noted.

Earlier this year, the minister announced that Egypt is targeting achieving economic growth of around 4.1% to 4.2% this year.

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

ZAWYA NEWSLETTERS

RELATED ARTICLES

ZAWYA NEWSLETTERS

LATEST VIDEO