Growth rates of Egyptian economy to reach 5% in 2021: Executive Director of IMF

SourceEgypt Today
SectorEconomy
CountryEgypt

CAIRO – 9 June 2021: Egypt is one of the few countries that achieved growth rates during the pandemic driven by economic reforms and positive growth by the end of 2019, amid expectations that growth rates will continue between 2.7 percent and reach 5 percent by the end of the new fiscal year, according to Mahmoud Mohieldin, Executive Director of the International Monetary Fund and United Nations Special Envoy for Financing for Sustainable Development. “The Middle East region has lost 5 percent of its growth rates due to the pandemic, amid expectations that it will reach 1 percent and increase to 3 percent within two years, which are positive rates, but not high rates,” Mohieldin stated. He added that there are expectations that growth rates in America will reach 6 percent by the end of the year, to rise within two years, while the growth rate in China will reach 8 percent, amid expectations that growth rates in Europe...read more...