World Bank says Egypt’s economy will grow at a 5.3% clip by 2019

Good news from the World Bank, which is projecting that Egypt’s GDP will grow at a 5.3% clip in 2019. The institution made the forecast in its monthly Global Economic Prospects report for June (pdf). The bank estimated Egypt's GDP would grow 3.9% in FY2016-17, in line with government projections. The bank sees the growth rate rising to 4.6% in the following year and 5.3% by FY2018-19. This would it back to pre-2011 levels. “Egypt’s growth is expected to remain near 4 percent in fiscal year 2017 and strengthen in the two years thereafter, supported by the gradual implementation of business climate reforms and improved competitiveness, although high inflation weighs on near-term activity,” the report said.