{"id":543432,"date":"2022-02-01T04:01:08","date_gmt":"2022-02-01T04:01:08","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/01\/govt-ups-2021-2022-growth-forecast-to-6\/"},"modified":"2022-02-01T04:01:08","modified_gmt":"2022-02-01T04:01:08","slug":"govt-ups-2021-2022-growth-forecast-to-6","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/01\/govt-ups-2021-2022-growth-forecast-to-6\/","title":{"rendered":"Gov\u2019t ups 2021-2022 growth forecast to 6%"},"content":{"rendered":"

<\/a> Gov\u2019t <\/strong>ups growth forecast: <\/strong>The Planning Ministry has upgraded its FY2021-2022 growth forecast for the Egyptian economy to 6% or more, from 5.6%<\/a>, minister Hala El Said told Bloomberg Asharq<\/a> yesterday.<\/p>\n

This would be almost double last year\u2019s growth:<\/strong> The economy grew 3.3% during FY 2020-2021, according to official figures.<\/p>\n

The forecast is more optimistic than other estimates:<\/strong> The IMF last week revised upwards its 2021-2022 forecast<\/a> to 5.6%, while the European Bank for Reconstruction and Development<\/a> and the World Bank<\/a> \u2014 as well as a Reuters poll of economists<\/a> \u2014 predicted during the last quarter that the economy would grow 4.9-5.1% this year.<\/p>\n

We still haven\u2019t seen any official GDP data since the tu<\/strong>rn of the fiscal year in Jul<\/strong>y<\/strong>, though El Said yesterday signaled that growth likely surpassed the 6-7% forecast for 2Q2021<\/a> in an interview with CNBC Arabia (watch, runtime: 5:15<\/a>). Preliminary figures released last year suggest the economy grew by 9.8% in 1Q<\/a> \u2014 its quickest pace in two decades \u2014 thanks to a favorable base effect.<\/p>\n

Unemployment levels for 4Q2021 are not expected to rise above the <\/strong>7.5% posted in 3Q2021<\/a><\/strong>, considering the number of jobs currently available, El Said also noted.<\/p>\n

New growth figures to land in February: <\/strong>\u201cWe would like to assure everyone that the growth figures for the current quarter are better than expectations and we will announce the figures in mid-February,\u201d El Said told the news website, without elaborating.<\/p>\n","protected":false},"excerpt":{"rendered":"

Gov\u2019t ups growth forecast: The Planning Ministry has upgraded its FY2021-2022 growth forecast for the Egyptian economy to 6% or more, from 5.6%, minister Hala El Said told Bloomberg Asharq yesterday. This would be almost double last year\u2019s growth: The economy grew 3.3% during FY 2020-2021, according to official figures. The forecast is more optimistic […]<\/p>\n","protected":false},"author":1,"featured_media":543433,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7206],"tags":[104,72,348,727,272,678],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-543432","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-economy","tag-enterpriseam","tag-gdp","tag-hala-el-said","tag-imf","tag-planning-ministry","wpautop","entry"],"acf":{"mongo_id":"4937ccd7-a197-4703-80bc-21dbb86318fa","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/2\/3.jpg","photo_position":"above","related_issue":[543426],"teaser":"","voice_url":""},"yoast_head":"\nGov\u2019t ups 2021-2022 growth forecast to 6% - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/01\/govt-ups-2021-2022-growth-forecast-to-6\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gov\u2019t ups 2021-2022 growth forecast to 6%\" \/>\n<meta property=\"og:description\" content=\"Gov\u2019t ups growth forecast: The Planning Ministry has upgraded its FY2021-2022 growth forecast for the Egyptian economy to 6% or more, from 5.6%, minister Hala El Said told Bloomberg Asharq yesterday. This would be almost double last year\u2019s growth: The economy grew 3.3% during FY 2020-2021, according to official figures. The forecast is more optimistic […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/01\/govt-ups-2021-2022-growth-forecast-to-6\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-02-01T04:01:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/2\/3.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/01\/govt-ups-2021-2022-growth-forecast-to-6\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/01\/govt-ups-2021-2022-growth-forecast-to-6\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Gov\u2019t ups 2021-2022 growth forecast to 6%\",\"datePublished\":\"2022-02-01T04:01:08+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/01\/govt-ups-2021-2022-growth-forecast-to-6\/\"},\"wordCount\":240,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/01\/govt-ups-2021-2022-growth-forecast-to-6\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/2\/3.jpg?fit=%2C&ssl=1\",\"keywords\":[\"economy\",\"EnterpriseAM\",\"GDP\",\"Hala El Said\",\"IMF\",\"Planning Ministry\"],\"articleSection\":[\"Economy\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/01\/govt-ups-2021-2022-growth-forecast-to-6\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/01\/govt-ups-2021-2022-growth-forecast-to-6\/\",\"name\":\"Gov\u2019t ups 2021-2022 growth forecast to 6% - 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The economy grew 3.3% during FY2020-2021, according to official figures.The upwards revision comes after 2Q2021-2022 growth exceeded expectations to record 8.3%,\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/2\/332.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":555712,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/24\/govt-upgrades-2021-2022-growth-forecast\/","url_meta":{"origin":543432,"position":1},"title":"Gov\u2019t upgrades 2021-2022 growth forecast","author":"enterpriseam admin","date":"24 November 2021","format":false,"excerpt":"The government is predicting growth of 5.6% in the current 2021-2022 fiscal year, Planning Minister Hala El Said said at EFG Hermes\u2019 Egypt Day conference yesterday, according to a ministry statement. The projection marks an upwards revision of a previous prediction for 5.4% growth.The state is slightly more optimistic on\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":548924,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/28\/egyptian-economy-grew-6-6-in-fy-2021-2022-says-planning-minister\/","url_meta":{"origin":543432,"position":2},"title":"Egyptian economy grew 6.6% in FY 2021-2022, says planning minister","author":"enterpriseam admin","date":"28 August 2022","format":false,"excerpt":"The Egyptian economy grew at a 6.6% clip in FY 2021-2022, up from 3.3% the previous year, according to initial figures announced by Planning Minister Hala El Said during a cabinet meeting on Thursday. The state\u2019s fiscal year runs 1 July-30 June.The economy grew faster last year than gov\u2019t was\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/8\/410.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":609402,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/11\/05\/economic-growth-almost-halves-to-3-8-in-22-23-planning-ministry\/","url_meta":{"origin":543432,"position":3},"title":"Economic growth almost halves to 3.8% in 22-23 \u2013Planning Ministry","author":"enterpriseam admin","date":"5 November 2023","format":false,"excerpt":"Egypt recorded growth of 3.8% in FY 22-23, with forecasts for FY 2023-24 at 4.2%","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/11\/135.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":553981,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/15\/gdp-could-grow-6-7-this-quarter-el-said\/","url_meta":{"origin":543432,"position":4},"title":"GDP could grow 6-7% this quarter -El Said","author":"enterpriseam admin","date":"15 December 2021","format":false,"excerpt":"Egypt\u2019s economy is expected to grow at a 6-7% clip in 2Q2021-2022, Planning Minister Hala El Said told Sky News Arabia yesterday. The forecast for the second quarter of the state\u2019s fiscal year is slightly lower than the 9.8% growth recorded in 1Q2021-2022, El Said noted, but we\u2019re still on\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/12\/348.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":570345,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/03\/29\/egypt-cuts-gdp-growth-forecast-to-5-1-from-5-6-in-fy-2019-2020\/","url_meta":{"origin":543432,"position":5},"title":"Egypt cuts GDP growth forecast to 5.1% from 5.6% in FY 2019-2020","author":"enterpriseam admin","date":"29 March 2020","format":false,"excerpt":"Gov\u2019t revises downwards economic growth forecast this fiscal year to 5.1%: The government has cut its GDP growth forecast for the fiscal year ending in June 2020 to 5.1% from 5.6% as the covid-19 outbreak takes its toll on the global economy, said Planning Minister Hala El Said, according to\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/3\/320.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/543432","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=543432"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/543432\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/543426"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/543433"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=543432"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=543432"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=543432"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=543432"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=543432"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}