The revised forecast, up from its previous projection of 20%, was attributed to an unexpected rise in inflation in February.
Goldman Sachs economist, Farouk Soussa indicated that estimates suggest the ministry received approximately EGP 240 billion from the initial tranche of the Ras El Hekma deal with the UAE
In a note seen by the Arab World News Agency, Goldman Sachs projects that the country’s real GDP growth will average between 6-6.5% for FY2025/2026
The bank also expected current deficit to expand to 2.5% gross domestic product (GDP) by the end of 2027.
Earlier on Friday, Prime Minister Mostafa Madbouly announced details of the UAE's $35 billion investment in the Ras El Hekma project on Egypt's North Coast
