Egypt’s GDP grows to 5.6% in 1Q2019-2020

Speaking of growth, Egypt’s GDP grew at a 5.6% clip in 1Q2019-2020, up from 5.3% during the same quarter last fiscal year, Planning Minister Hala El Said told Sky News Arabia (watch, runtime: 01:37). El Said did not provide any further economic indicators for the quarter. The government is targeting a 6% growth rate for the remainder of this fiscal year. The IMF expects that Egypt’s GDP will grow 5.9% in FY2019-2020, and see inflation reaching 9.6% by the end of the year in June 2020.