The World Bank has revised upwards its prediction for Egypt’s GDP growth by 0.5 percentage points to 5.5% for FY2021-2022.
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The bank said in October that it expected growth to come in at 5.0%, but in its latest Global Economic Prospects report hiked its forecast, citing rising exports, growth in our tech and natural gas sectors, and a rebound in tourism. Growth will remain steady at 5.5% next fiscal year, the bank said.
This tallies with other estimates: The Planning Ministry said last month we’re on track to see the economy grow somewhere between 5.5% and 5.7% in FY2021-2022, while the IMF projected growth of 5.2% in its most recent forecast.
