Related Articles
Ahram Online
According to a report by the World Bank on Tuesday, the economic growth rate projection for the Egyptian economy is expected to rise from 5.9% to 6.1% in the fiscal year (FY) 2021/22.
“The Egyptian economy is expected to record 4.8% growth in the FY 2022/23, a 0.7% downgrade from previous projection of 5.5. This would be caused by a decline in tourism resulting from the Ukrainian war and a rise of food and energy prices”, The WB’s June report for the Global Economic Prospects.
Earlier this week, an executive delegation from the World Bank held a series of meetings with Egyptian Prime Minister Mostafa Madbouly. The officials assessed the ongoing cooperation portfolio and measures taken by Egypt to adapt to the global economic crisis.
The meeting reviewed the development policy, financing loan program and the framework of strategic partnership for the next five years (2023/27).
