The International Monetary Fund raised its forecast for the growth of the Egyptian economy during the current and next fiscal years by 0.2 percent to reach 3.8 percent and 4.3 percent, respectively, compared to 3.6 percent and 4.1 percent in the January forecast.
The IMF's forecast is similar to the government's expectations of 4 percent growth in the current fiscal year and 4.5 percent in the next fiscal year, supported by investments, the recovery in consumption and the tourism sector, and the hoped-for increase in Suez Canal revenues.
The preliminary indicators of the "Central Bank" in the statement of the Monetary Policy Committee showed that the economy grew at a faster pace than 4.3 percent in the third quarter of the current fiscal year.
Source (Al-Arabiya.net Website, Edited)
