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FINANCIAL NEWS
WB expects Egypt’s economy to grow 3.8% in 2013
17 Jan 2013
(MENAFN) The World Bank’s latest report, Global Development Horizons 2013, forecasts Egypt’s economy to expand to 3.8 percent in 2013, reported Qatar News Agency.
The report also expects the country’s gross domestic product (GDP) growth to stand at 4.7 percent next year.
The bank noted that as soon as political tensions recede, cash flows from non-oil economic activities would recover.
The bank stressed that strong proceeds from the country’s tourism sector had not yet returned to their 2010 levels.
It said that the endorsement of an International Monetary Fund (IMF) loan of USD4.8 billion in the current year would facilitate the flow of extra aid from other donors, which would improve Egypt’s foreign exchange reserves.
Furthermore, the intended cut of fuel subsidies, in addition to tax reforms would enhance the financial situation and grant resources to the private sector.
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24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
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BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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