Egypt expects economic growth between 2.8 and 4% in 2021

Egypt expects economic growth between 2.8 and 4% in 2021

Egypt expects economic growth between 2.8 and 4% in 2021

Egypt expects economic growth between 2.8 and 4% in 2021

Egypt had been hoping for growth between 6 and 6.5 percent before the coronavirus crisis broke out. (Shutterstock)

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Egypt expects economic growth between 2.8 and 4% in 2021

Unemployment indicators also reflected the economy's development

Updated 29 November 2020

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CAIRO: Egyptian Finance Minister Mohamed Maait said the country was reaching positive growth rates, calling it a great achievement in light of the global conditions brought on by the coronavirus pandemic.

Maait said the estimated rate of economic growth in the fiscal year 2021-2022 would reach between 2.8 and 4 percent.

He said the percentage varied according to how each person perceived it sectorally, and that industries such as tourism and aviation were significantly affected by the spread of the disease.

"We have a priority to make room for the private sector's participation in development projects,“ the minister added.

He explained that there would be strengthened cooperation with the Transport Ministry in implementing its projects in partnership with the private sector.

Egypt had been hoping for growth between 6 and 6.5 percent before the coronavirus crisis broke out.

The country topped the emerging market economies in containing the rate of inflation