{"id":321807,"date":"2021-04-07T13:13:39","date_gmt":"2021-04-07T13:13:39","guid":{"rendered":"https:\/\/egy-africa.com\/en\/?p=321807"},"modified":"2021-04-07T13:13:39","modified_gmt":"2021-04-07T13:13:39","slug":"egypts-economy-to-record-2-5-in-fy-2020-21-before-rebounding-to-5-7-imf","status":"publish","type":"post","link":"https:\/\/egy-africa.com\/en\/2021\/04\/07\/egypts-economy-to-record-2-5-in-fy-2020-21-before-rebounding-to-5-7-imf\/","title":{"rendered":"Egypt\u2019s economy to record 2.5% in FY 2020\/21 before rebounding to 5.7%: IMF"},"content":{"rendered":"<p>The International Monetary Fund (IMF) has predicted that the Egyptian economy will continue its positive growth this fiscal year (FY) 2020\/21, recording 2.5 percent.<\/p>\n<p>However, the financial institution has decreased its projections from October\u2019s world economic outlook (WEO), the then expected rates were at 2.8 percent<\/p>\n<p>In addition The IMF expected in its recent \u00a0WEO that the Egyptian economy will rebound in FYs 2021\/22 and 2025\/26, to record 5.7 and 5.8 percent \u00a0growth, respectively, compared to 3.6 percent \u00a0in FY 2019\/20.<\/p>\n<p>The current account deficit is expected to expand to 4 percent in FY21\/22 from 3.1 percent in FY19\/20, the international financial institution said in a report on Tuesday.<\/p>\n<p>The Fund also expected that Egypt\u2019s average inflation rate will reach 4.8 percnt \u00a0in the current FY, compared to 5.7 percent in the last FY.<\/p>\n<p>The unemployment rate is forecast to increase to 9.8 percent \u00a0in FY21\/22 from 8.3 percent in FY19\/20.<\/p>\n<p>\u201cThe COVID-19 crisis saw an unprecedented use of unconventional monetary policy instruments among emerging market and developing economies.\u201d<\/p>\n<p>Egypt is one of the countries that launched asset purchase programmes (APP) as a means to counter market dysfunction and announced purchases of equities.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The International Monetary Fund (IMF) has predicted that the Egyptian economy will continue its positive growth this fiscal year (FY) 2020\/21, recording 2.5 percent.<\/p>\n","protected":false},"author":4,"featured_media":319992,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[24],"tags":[99,221],"class_list":["post-321807","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development-partners","tag-international-monetary-fund","tag-international-monetary-fund-imf"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.3 - 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