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Wednesday, 15 December 2021

GDP could grow 6-7% this quarter -El Said

Egypt’s economy is expected to grow at a 6-7% clip in 2Q2021-2022, Planning Minister Hala El Said told Sky News Arabia yesterday. The forecast for the second quarter of the state’s fiscal year is slightly lower than the 9.8% growth recorded in 1Q2021-2022, El Said noted, but we’re still on track to end FY2021-2022 with a GDP growth rate of somewhere between 5.5% and 5.7%. The minister last month predicted growth of 5.6% during the current 2021-2022 fiscal year, an upwards revision of a previous prediction for 5.4% growth.

Growth figures have impressed so far in 2021: GDP has continued to rebound this year from the covid-induced slump in 2020, expanding by 7.2% in the second quarter, and the third quarter, which was the fastest rate of growth seen in two decades.

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