The bank praised Egypt’s economic recovery in FY2021/2022, pointing out that its 6.6% GDP growth rate was driven by the manufacturing sector
Overall real GDP growth among the OICs is expected to hit 4.3% by the end of the year, while WB forecasted a 4.2% growth in 2022 for the region’s GDP
The numbers are lower than the agency’s previous expectations, where forecasted that Egypt’s GDP could reach 6% in 2022
The report further projected that the Egyptian economy would grow to 5.5 percent in FY 2022/2023
This puts regional growth estimates at 6.4 percent lower than the pre-pandemic growth forecast published in October 2019
