The Egyptian Ministry of Planning and Economic Development, Hala Al-Saeed, predicted that the Egyptian economy will grow by between 2.9 and 3 percent in the fiscal year ending at the end of this month, before accelerating to 4.2 percent in the fiscal year 2024-2025.
The Minister of Planning explained that the economy will grow as a result of investment spending, net exports and imports, and consumer spending.
For his part, Finance Minister Mohamed Maait had predicted that the economy would grow by 2.8 percent this year and 4.2 percent in 2024-2025. He explained that the share of the state treasury from the Ras al-Hikma project deal, which is estimated at about $ 12 billion, will reduce the total budget deficit by the end of the current fiscal year to about 4-4.3 percent, compared to a target deficit by the end of the year at 7 percent.
Source (Al-Arabiya.net Website, Edited)
