Egypt growth forecast cut, currency expected to slip further – Reuters

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.