Business Today Egypt looks back at 2024 to highlight the year’s top stories and most impactful events that have left a mark on Egypt’s economy.
Despite the revision, Fitch remains cautiously optimistic about Egypt’s future, with the report explaining that the growth forecast for FY2024/2025 still surpasses the previous year’s performance of 2.4%.
Fitch Solutions affirmed its economic forecast for Egypt’s growth in the current fiscal year (FY2024/2025), citing increased investment, a rebound in the manufacturing sector, and the expected resolution of the Gaza conflict by late 2024
The firm's report forecasts that the exchange rate could range between EGP 47.9 and EGP 49.5 against the USD, a decline from their earlier prediction of EGP 46.5
According to Fitch, the exchange rate float on March 6, 2024, alongside substantial financing totaling $57 billion, bolstered forecasts for the sector
