The World Bank expected the growth of the Egyptian economy to rise to 6% by fiscal year 2021, following the reforms implemented by the Egyptian government to achieve economic stability and restore confidence, making it among the world's top-growing countries.
According to a report by the WB, entitled "Egyptian Economic Observatory", the Egyptian economic reform program caused investments and net exports to be the main drivers of growth instead of consumption. This contributed to the growth of the Egyptian economy by 5.3% in fiscal year 2017/2018. The growth rate continued to increase to 5.4% in the first half of the last fiscal year 2018/2019.
The report showed that the pillars of the next trend of economic reforms will be the macroeconomic stability, greater opportunities for wider participation of the private sector in the economy, and the provision of manpower for the skills needed for better economic activity, which will positively reflect the competitiveness of the country, create more jobs, and improving the living conditions of the population.
Source (Economic Bulletin website, Edited)
