Browsing: World Bank report on Egypt

Egypt’s economy is expected to grow by 2.3 percent in the 2020/2021 fiscal year from the previous project of 3.7 percent in January 2021 according to the World Bank’s Economic Prospects report June 2021.

According to the report, In the 2021/2022 fiscal year Egypt is expected to see further growth rise to 4.5 per cent down from 5.8 percent in the January report, which is a decrease of 1.3percent. In the Fiscal year 2022/2023, the report projects a growth rise of 5.5 percent.

According to the World Bank, in the first half of 2021 Egypt’s economy remained sluggish despite the relaxation of lockdown restrictions. Following unprecedented support in 2020, fiscal policy is expected to be less accommodative in 2021 while the average primary fiscal deficit is expected to be about 4 percent of GDP which is about two thirds its level in 2020.

“The scope for further financial support is …