Cabinet highlights int’l institutions’ positive outlook for Egypt’s economy – Egypttoday

Cabinet highlights int’l institutions’ positive outlook for Egypt’s economy – Egypttoday

CAIRO - 19 July 2020: The cabinet media center on Sunday published an infographic report on the Egypt's economic outlook according to international institutions.

The report attributed the country's strong economic performance, in the face of a coronavirus-led recession, to the bold economic reform program adopted by the government over the past years.

According the World Bank, Egypt's pace economic growth will make it top the list of the most growing economies among emerging and developing countries in 2020, the infographic showed.

Egypt's economic growth reached 3 percent during the FY 2019-2020, followed by Bangladesh 1.9 percent and China 1 percent; whereas Indonesia is not expected to achieve any economic growth during 2020.

The Egyptian economy has also been the least affected by the coronavirus pandemic in the Middle East and North Africa, the World Bank noted, predicting even higher growth rates in Egypt driven by the ongoing structural reforms and an improved private sector.

In addition, the WB has also ranked Egypt fifth globally in terms of economic growth in a list of 30 countries that are expected to be the only ones to achieve growth during 2020, prominent among which are China and Vietnam.

The listed countries whose