Egypt’s GDP grows despite pandemic

Egypt’s GDP grows despite pandemic

CAIRO “” Despite the pandemic and tourism collapse, Egypt is projecting healthy economic growth this year, even as around one third of the Arab world's most populous country still lives under poverty.

Critics question, however, how much of the gross domestic product (GDP) growth is driven by what is described as "ostentatious“ mega-projects, such as a new administrative capital being built in the desert, financed by ballooning debt that will have to be repaid. 

The International Monetary Fund (IMF) in September predicted economic growth of 3.6 per cent for 2020. Although lower than earlier forecasts, this still makes Egypt the only north African economy set to expand this year.

At the same time, almost one third of Egypt's more than 100 million people live below the poverty line, defined as surviving on less