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FINANCIAL NEWS
Egypt’s economic outlook remain stable
08 Jun 2017
(MENAFN) Economic outlook in Egypt is stable, as growth jumped amid the first quarter due to increased investments and a resurgent external sector.
Meanwhile, the economy is recovering, with industrial production soaring, while in May, the IMF confirmed to the second loan installment worth USD1.25bn.
However, the economy is projected to lose steam in fiscal year FY 2017 ending on June 30, as a result of the fiscal consolidation measures, which cut economic activity.
Furthermore, growth should pick up as the nation reaps the rewards of painful structural reform measures and an enhanced business environment.
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MENAFN0806201700450000ID1095544251
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