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FINANCIAL NEWS
Egypt expects decline in real growth rate at 3.7 percent
28 Feb 2016
(MENAFN) According to Chartered Financial Analyst (CFA) predicted a decline in real growth rate through financial year 2015/2016 to 3.7 percent after making progress in FY 2014/2015 of 4.2 Pct.
The decline was attributed to the slowdown in investments due to the challenges they face, mainly in terms of FX lacks as well as the energy problem faced in the first half of the year.
In addition, expenditure expected to grow at a slower rate due to unchecked inflation, negative real wages, slow recovery in unemployment rate and rate hikes.
“Net exports balance is deteriorating though the devaluation of the Egyptian Pound and the fall in international commodity prices,” according to the report read.
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