The International Monetary Fund (IMF) has raised its expectations for the growth of the Egyptian economy to 4.4% in 2024/2025 from 3% in the current fiscal year 2023/2024.
According to the IMF's Global Growth Outlook report issued today, it is expected that the inflation rate in Egypt will decrease to 25.7% in 2025.
Earlier, Hala El-Said, Minister of Planning and Economic Development, indicated that the economic and social development plan for the fiscal year 2024/2025 aims for a growth rate of 4.2%.
At the same time, the Fund expects the growth rate of the Middle East and Central Asia's economy to be 2.8% compared to the previously expected 2.9% in January, noting the variation in growth expectations between oil-exporting and importing countries.
The IMF forecasted Saudi Arabia's economy to grow by 2.6% in 2024 and 6% in 2025, while it anticipates the UAE's economy to grow by 3.5% in 2024 and 4.2% in 2024. It also predicted Qatar's economy to grow by 2% in the current and next years.
Meanwhile, the IMF projected Algeria's economy to grow by 3.8% in the current year and 3.1% in 2025, while it expected Iraq's economy to grow by 1.4% in 2024 and 5.3% in 2025.