{"id":547776,"date":"2022-07-06T04:19:02","date_gmt":"2022-07-06T04:19:02","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/06\/egyptian-economy-grew-by-6-2-in-2021-2022-planning-minister\/"},"modified":"2022-07-06T04:19:02","modified_gmt":"2022-07-06T04:19:02","slug":"egyptian-economy-grew-by-6-2-in-2021-2022-planning-minister","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/06\/egyptian-economy-grew-by-6-2-in-2021-2022-planning-minister\/","title":{"rendered":"Egyptian economy grew by 6.2% in 2021-2022 -planning minister"},"content":{"rendered":"

<\/a> Economic growth accelerates in FY2021-2022:<\/strong> The Egyptian economy grew at a 6.2% clip in FY2021-2022, up from 3.3% the previous year, Planning Minister Hala El Said told CNBC Arabia<\/a> yesterday.<\/p>\n

This meets recent government forecasts\u2026:<\/strong> The government had upped its growth forecast for the fiscal year to 6.2% in May on the back of a strong 3Q<\/a>, after having trimmed it in March to 5.7%<\/a> due to the anticipated economic impact of the war in Ukraine.<\/p>\n

And is comfortably higher than the original forecast in the 2021-2022 budget<\/strong>, which penciled in 5.4% growth<\/a> for the fiscal year.<\/p>\n

Positive growth was recorded across all sectors<\/strong>, El Said said. We\u2019ll have to wait for the full sectoral breakdown from the Planning Ministry for a clearer picture of how the economy performed.<\/p>\n

The figure is slightly above the World Bank\u2019s forecast, <\/strong>which had revised upwards<\/a> its projection for Egypt\u2019s GDP growth last month to 6.1%.<\/p>\n

That\u2019s the second piece of good macro news this week:<\/strong> Preliminary figures<\/a> released Monday indicated that the government succeeded in narrowing the budget deficit to 6.1% of GDP during the fiscal year from 7.4% the year before. This is significantly smaller than the 6.7% target in the state budget, and comes despite surging food and energy prices adding bns of USD in unexpected costs during the second half of the year.<\/p>\n

Expect growth to slow this year: <\/strong>The government recently trimmed its GDP forecast<\/a> for FY2022-2023 by 0.2 percentage points, and is now projecting the economy to grow by 5.5%, thanks largely to the impact of the Ukraine conflict on global commodity markets and state finances. The government is targeting a 6.1% budget deficit and a 1.5% primary surplus this fiscal year.<\/p>\n","protected":false},"excerpt":{"rendered":"

Economic growth accelerates in FY2021-2022: The Egyptian economy grew at a 6.2% clip in FY2021-2022, up from 3.3% the previous year, Planning Minister Hala El Said told CNBC Arabia yesterday. This meets recent government forecasts\u2026: The government had upped its growth forecast for the fiscal year to 6.2% in May on the back of a […]<\/p>\n","protected":false},"author":1,"featured_media":547777,"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":[864,104,72,348,727],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-547776","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-budget-deficit","tag-economy","tag-enterpriseam","tag-gdp","tag-hala-el-said","wpautop","entry"],"acf":{"mongo_id":"2985e08c-7496-48c1-9f4e-e7105fc9d059","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/7\/135.jpg","photo_position":"above","related_issue":[547770],"teaser":"","voice_url":""},"yoast_head":"\nEgyptian economy grew by 6.2% in 2021-2022 -planning minister - 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\/07\/06\/egyptian-economy-grew-by-6-2-in-2021-2022-planning-minister\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egyptian economy grew by 6.2% in 2021-2022 -planning minister\" \/>\n<meta property=\"og:description\" content=\"Economic growth accelerates in FY2021-2022: The Egyptian economy grew at a 6.2% clip in FY2021-2022, up from 3.3% the previous year, Planning Minister Hala El Said told CNBC Arabia yesterday. This meets recent government forecasts\u2026: The government had upped its growth forecast for the fiscal year to 6.2% in May on the back of a […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/06\/egyptian-economy-grew-by-6-2-in-2021-2022-planning-minister\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-07-06T04:19:02+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/135.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\/07\/06\/egyptian-economy-grew-by-6-2-in-2021-2022-planning-minister\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/06\/egyptian-economy-grew-by-6-2-in-2021-2022-planning-minister\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Egyptian economy grew by 6.2% in 2021-2022 -planning minister\",\"datePublished\":\"2022-07-06T04:19:02+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/06\/egyptian-economy-grew-by-6-2-in-2021-2022-planning-minister\/\"},\"wordCount\":286,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/06\/egyptian-economy-grew-by-6-2-in-2021-2022-planning-minister\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/135.jpg?fit=%2C&ssl=1\",\"keywords\":[\"budget deficit\",\"economy\",\"EnterpriseAM\",\"GDP\",\"Hala El Said\"],\"articleSection\":[\"Economy\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/06\/egyptian-economy-grew-by-6-2-in-2021-2022-planning-minister\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/06\/egyptian-economy-grew-by-6-2-in-2021-2022-planning-minister\/\",\"name\":\"Egyptian economy grew by 6.2% in 2021-2022 -planning minister - 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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":548924,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/28\/egyptian-economy-grew-6-6-in-fy-2021-2022-says-planning-minister\/","url_meta":{"origin":547776,"position":1},"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":566196,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/02\/are-we-there-yet\/","url_meta":{"origin":547776,"position":2},"title":"Are we there yet?","author":"enterpriseam admin","date":"2 June 2021","format":false,"excerpt":"Egypt is expected to (almost) match its pre-pandemic growth level in this final quarter of the state\u2019s current fiscal year. The economy is penciled in to grow 5.2-5.5% this quarter, which wraps up on 31 June, according to figures Planning and Economic Development Minister Hala El Said presented at today\u2019s\u2026","rel":"","context":"In "SPEED ROUND: ECONOMY"","block_context":{"text":"SPEED ROUND: ECONOMY","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/6\/409.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":543432,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/01\/govt-ups-2021-2022-growth-forecast-to-6\/","url_meta":{"origin":547776,"position":3},"title":"Gov\u2019t ups 2021-2022 growth forecast to 6%","author":"enterpriseam admin","date":"1 February 2022","format":false,"excerpt":"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\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\/3.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":556997,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/02\/we-smashed-growth-expectations-in-4q2020-2021\/","url_meta":{"origin":547776,"position":4},"title":"We smashed growth expectations in 4Q2020-2021","author":"enterpriseam admin","date":"2 September 2021","format":false,"excerpt":"Egypt\u2019s economy grew at a 7.7% clip in 4Q2020-2021, accelerating from a contraction of 1.7% during the final quarter of the previous fiscal year \u2014 and up from the2.9% growth recorded in 3Q2020-2021 quarter, Planning Minister Hala El Said said during a Cabinet meeting yesterday. Reuters also has the story.The\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\/9\/23.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":573171,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/07\/22\/analysts-see-egyptian-economy-growing-at-a-3-1-clip-in-the-2020-2021-fiscal-year\/","url_meta":{"origin":547776,"position":5},"title":"Analysts see Egyptian economy growing at a 3.1% clip in the 2020-2021 fiscal year","author":"enterpriseam admin","date":"22 July 2020","format":false,"excerpt":"Analysts see Egypt\u2019s economy growing at a 3.1% clip in FY2020-2021, according to a Reuters poll, down from 3.5% in a similar survey the newswire carried in April. Economists have revised downwards their growth expectations as the economic fallout from the pandemic \u2014 including the drop in tourism, remittance inflows,\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\/7\/183.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\/547776","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=547776"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/547776\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/547770"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/547777"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=547776"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=547776"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=547776"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=547776"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=547776"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}