PHOTO
Boys sell sweet pastries to pedestrians outside the (R) 18th-century Ottoman-period Sabil-Kuttab (water spring and school) of Abd al-Rahman Katkhuda along Islamic Cairo's landmark al-Muizz li-Din Allah street on July 27, 2023. (Photo by Khaled DESOUKI / AFP)
Morgan Stanley expects Egypt’s gross domestic product (GDP) to grow by around 4.2% in the current fiscal year (FY) of 2023/2024, up from its previous projection for the country of 5%, Asharq Business reported on July 28th, citing a global economic report by the investment bank.
On July 19th, Minister of Finance Mohamed Maait announced that Egypt’s GDP hit 4.2% in FY 2022/2023.
The state’s revenues saw an annual growth of about 12.5% in FY 2022/2023, as tax revenue climbed by 23.1%.
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