{"id":322780,"date":"2021-07-31T08:02:00","date_gmt":"2021-07-31T08:02:00","guid":{"rendered":"https:\/\/egy-africa.com\/en\/?p=322780"},"modified":"2021-08-01T08:03:30","modified_gmt":"2021-08-01T08:03:30","slug":"fitch-forecasts-egypts-real-gdp-growth-of-5-5-in-fy2022-23","status":"publish","type":"post","link":"https:\/\/egy-africa.com\/en\/2021\/07\/31\/fitch-forecasts-egypts-real-gdp-growth-of-5-5-in-fy2022-23\/","title":{"rendered":"Fitch forecasts Egypt\u2019s real GDP growth of 5.5% in FY2022\/23"},"content":{"rendered":"

Fitch Ratings is forecasting that Egypt\u2019s real GDP growth will recover to 5.5 percent in the financial year (FY) 2022\/2023 that ending June 2022, the rating agency said in a recent report<\/a>.<\/p>\n

\u201cWe expect growth to recover to 5.5 percent in FY22 and to be maintained at just over 5 percent in the medium term, assuming tourism gradually returns, further growth in the energy and manufacturing sectors and gradual improvements in the business environment.\u201d Fitch report read.<\/p>\n

\u201cSimilarly, we forecast improvements in the budget deficit, government debt and the current account balance in 2021-2022.\u201d<\/p>\n

The rating agency has also affirmed Egypt\u2019s Long-Term Foreign-Currency Issuer Default Rating (IDR) at \u2018B+\u2019 with a stable outlook.<\/p>\n

Meanwhile, Fitch said it forecast Egypt\u2019s real GDP growth to be 2.5 percent in the financial year ending June 2021, well below average growth of 5.5 percent in FY18 and FY19.<\/p>\n

\u201cEgypt\u2019s ratings and Outlook are supported by a recent track record of fiscal and economic reforms, policy commitment to furthering the reform programme and ready availability of fiscal and external financing in the face of the COVID-19 pandemic.<\/p>\n","protected":false},"excerpt":{"rendered":"

Fitch Ratings is forecasting that Egypt\u2019s real GDP growth will recover to 5.5 percent in the financial year (FY) 2022\/2023 that ending June 2022, the rating agency said in a recent report.<\/p>\n","protected":false},"author":4,"featured_media":320008,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[33,21],"tags":[161],"class_list":["post-322780","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-main","category-news","tag-fitch-ratings"],"yoast_head":"\nFitch forecasts Egypt\u2019s real GDP growth of 5.5% in FY2022\/23 - egy-africa<\/title>\n<meta name=\"description\" content=\"Fitch Ratings is forecasting that Egypt\u2019s real GDP growth will recover to 5.5 percent in the financial year (FY) 2022\/2023 that ending June 2022, the rating agency said in a recent report.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/egy-africa.com\/en\/2021\/07\/31\/fitch-forecasts-egypts-real-gdp-growth-of-5-5-in-fy2022-23\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fitch forecasts Egypt\u2019s real GDP growth of 5.5% in FY2022\/23 - 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