The Egyptian Ministry of Planning and Economic Development expected growth to reach 6 percent in the current fiscal year 2021/2022, which ends at the end of next June.
Minister Hala Al-Saeeda pointed out that "the growth rate is expected to reach about 6 percent this fiscal year, driven by the growth spurt achieved in the first quarter of the year, which amounted to 9.8 percent, the highest growth rate in 20 years." Al-Saeeda noted "the contribution of the measures, policies and efforts taken by the Egyptian state to strengthening the elements of the resilience and resilience of the Egyptian economy in the face of the crisis, and what is reflected in the positive indicators witnessed by the Egyptian economy." She explained that, "Despite the repercussions of the pandemic, the Egyptian economy succeeded in achieving a growth rate of 3.3 percent during the 2020-2021 fiscal year and 3.6 percent in 2019-2020, so that Egypt comes among a limited number of countries in the world that achieved growth inspite of the pandemic.”
In addition, the Central Agency for Public Mobilization and Statistics revealed that the value of the trade balance deficit reached $1.19 billion during November 2021, compared to $3.22 billion during the same month of the previous year, a decrease of 63.1%.
Source (Al-Sharq Al-Awsat Newspaper, Edited)
