The International Monetary Fund (IMF) abruptly lowered its forecast for the Egyptian economy in its Global Prospects report for the current fiscal year and next.
The IMF forecast growth of 3.6 percent in the fiscal year that began in July 2024 and ends in June 2025, compared to its previous forecast of 4.1 percent. The IMF also lowered its forecast for the next fiscal year to 4.1 percent from 5.1 percent in its previous forecast.
The IMF attributed the downgrade of its growth forecast to foreign exchange market constraints and foreign exchange shortages. He expects the recovery to begin to emerge as growth rises to 3.6 percent in the current fiscal year from 2.4 percent last fiscal year and will continue to accelerate to 4.1 percent the following year.
Source (Al-Arabiya.net Website, Edited)
