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FINANCIAL NEWS
Egypt’s economy to slowdown more: IMF
12 Apr 2011
(MENAFN) The International Monetary Fund (IMF) said that economic growth in Egypt would shrink even more due to the political unrest in the country and in the Arab World, reported Bloomberg.
The IMF said that gross domestic product in Egypt would expand by about 1 percent, down form a previous forecast of 5 percent.
The IMF said that the slow down would also impact most economies in the Arab world.
The IMF also stated that the average rate for growth in economies in the Arab world would stand at grow 1.3 percent in 2011.
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