IMF predicts 4pct increase for Egypt’s 2016/17 FY

05 Oct 2016

(MENAFN) The Intl’ Monetary Fund (IMF) predicts 4 percent increase for Egypt in the financial years of 2016/17.Accordingly, the country’s real GDP growth for FY 2014/2015 reached 4.2 percent, while it predicts a 3.8 percent growth in FY 2015/2016 and 6pct in 2020/2021.The increase is attributed to the government’s predictions that the reforms being applied in FY 2016/2017 could reflect positively on the private sector.Moreover, growth could reach 4-4.5 percent this fiscal year and could increase to 5 percent when the US dollar lack problem is resolved in H2 of FY 2016/2017.

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