Disclaimer: The information provided on the Timber Exchange Market Data Hub is sourced from a variety of publicly available data sources and confidential sources that have not been independently verified. Timber Exchange is not responsible for any expenses, damages, losses, or costs incurred as a result of using or relying on the information provided on this site. By using the Timber Exchange Market Data Hub, you agree to use the information at your own risk and acknowledge that any decisions made based on the information provided are done so solely at your own risk.
Egypt's economy to grow by 5% in FY 2022/2023 due to high public investments
Posted on December 5, 2022 |
- The Egyptian economy continued to achieve a 4.4% growth during Q1 of the current fiscal year despite challenges from the Ukraine crisis, the pandemic, and the effects of climate change.
- The International Monetary Fund (IMF) expected Egypt’s real GDP to grow by 4.4% in 2023 down from its July forecast of 4.8% but global growth will drop to 2.7% in 2023 from 6% in 2021 due to the war between Russia and Ukraine and the pandemic.
- Until now, the Central Bank of Egypt (CBE) hiked the key interest rates by 5% (500 bps) in 2022 to reduce the inflationary pressure caused by elevated global inflation and the repercussions of the war in Ukraine.