The European Bank for Reconstruction and Development lowered its forecast for economic growth in Egypt for 2024 by 0.7 percentage points to 4.5 percent, compared to its previous forecast five months ago.
In its report on regional economic prospects, the bank referred to “structural constraints in non-resource sectors, high inflation and limited fiscal space” as factors contributing to the economic slowdown in the country. The European Bank for Reconstruction and Development's forecast for Egypt for 2023 saw a slight increase of 0.1 percentage point to 4.3 percent.
The International Monetary Fund reduced its expectations for Egyptian growth in 2024 from the level of 5 percent in the “World Economic Outlook” report to 4.1 percent, while raising its expectations for inflation during the current and next years.
Source (Al-Arabiya.net website, adapted)
