Egypt to see economic growth of 2.7% in FY 2020/21: World Bank
Published 06 Jan,2021 via Daily News Egypt - Egypt is expected to see growth of 2.7% in fiscal year (FY) 2020/21, down from 3.6% in FY 2019/20, according to the World Bank’s Global Economic Prospects report.
The report said that the country is forecast to see further growth rise to 5.8% in FY 2021/22.
It also said that Egypt’s economy has been heavily disrupted by the novel coronavirus (COVID-19) pandemic. However, it added that a contraction for the year was avoided thanks to previous government reforms that rebuilt policy buffers, ensured resilient consumption expenditure, and the input of international assistance.
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