Egypt downgrades economic growth forecast to 3.5% in FY2023/24: Elsaid

Egypt downgrades economic growth forecast to 3.5% in FY2023/24: Elsaid

The Egyptian government has downgraded its economic growth forecast for the fiscal year (FY) of 2023/2024 by 0.7% to 3.5%, Minister of Planning and Economic Development Hala Elsaid revealed in an interview with CNBC Arabia. This forecast may increase or decrease a little based on the impact of the Gaza-Israel war, Elsaid noted. Earlier this year, the minister announced that Egypt is targeting achieving economic growth of around 4.1% to 4.2% this year.   Copyright © 2022 Arab Finance Brokerage Company All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info). Egypt downgrades economic growth forecast to 3.5% in FY2023/24: Elsaid