Egypt growth forecast cut, currency expected to slip further – Reuters
- Date: 20-Jul-2023
- Source: Reuters
- Sector:Financial Markets
- Country:Egypt
Egypt growth forecast cut, currency expected to slip further – Reuters
CAIRO, July 20 (Reuters) - Egypt's economic growth is expected to be slower than forecast earlier, while inflation would stay higher and the Egyptian pound would weaken a little more than previous projections, a Reuters poll showed.
Egypt has been grappling with a protracted shortage of foreign currency, record inflation and a rising debt burden despite the economy maintaining relatively steady growth through shocks caused by COVID-19 and the Ukraine war.