A report issued by Statista expected Egypt’s GDP to grow by 4.4% this year, up from 4.1% in 2017.
According to the report, the country’s GDP growth rate will grow strongly in 2019 at 5.3%, then by 5.76% in 2020 compared to 2019.
According to the report, GDP will grow further in 2021. The market research company expected growth to reach 6%, before falling slightly to 5.9% in 2022.
Finance Minister Amr El-Garhy said previously that Egypt expects GDP growth to reach 4.6-4.8% in the fiscal year (FY) 2017/2018.
A previous presidential statement said the rate of GDP growth had reached 4.1% in fiscal year 2016/2017.
The presidency said the overall budget deficit had fallen to 10.9% of GDP in FY 2016/2017, down from 12.5% in the previous fiscal year.
Prime Minister Sherif Ismail’s cabinet has been implementing an economic reform programme, agreed upon with the International Monetary Fund (IMF), which includes the value added tax, floating the pound, reducing subsidies, and curbing imports of non-essential goods.