According to the April 6-26 Reuters poll of 13 economists, median forecasts for FY2022/2023 were a growth rate of 4%, 4.5% for FY2023/2024, and 5% for FY 2024/2025
Egypt’s economy is expected to grow 4% in the current fiscal year, climbing to 4.5% for the next, revealed a recent Reuters pool. These numbers align with the government’s own forecast.
Reuters explained that the economy has been “shaken further by Russia's invasion of Ukraine last year, which rocked tourism, raised commodity prices, and prompted foreign investors to pull about $20 billion out of its financial markets”.
According to the April 6-26 Reuters poll of 13 economists, median forecasts for FY2022/2023 were a growth rate of 4%, 4.5% for FY2023/2024, and 5% for FY 2024/2025.
In the face of global economic hurdles and its local impact, the Egyptian government has been taking significant steps toward economic reform and creating a more investor-friendly environment in recent years, leading to a steady uptick in growth and other economic indicators.
Related > Egypt continues economic reform with cabinet's approval of new measures
The Egyptian government currently expects a growth rate of 4% for the current FY, released in its November 30th letter to the IMF.
Ratings agency S&P Global Ratings lowered its outlook for Egypt’s economy to negative last week but also noted that the country could meet its demand for foreign currency financing through its flexible exchange rate and privatization program.
