{"id":566058,"date":"2021-05-25T14:02:01","date_gmt":"2021-05-25T14:02:01","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/25\/egypts-post-covid-growth-will-need-increased-private-sector-involvement-european-commission\/"},"modified":"2021-05-25T14:02:01","modified_gmt":"2021-05-25T14:02:01","slug":"egypts-post-covid-growth-will-need-increased-private-sector-involvement-european-commission","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/25\/egypts-post-covid-growth-will-need-increased-private-sector-involvement-european-commission\/","title":{"rendered":"Egypt\u2019s post-covid growth will need increased private sector involvement \u2013European Commission"},"content":{"rendered":"

<\/a> Egypt needs to involve the non-oil private sector in its sustainable covid recovery plan<\/strong>, according to an economic brief by the European Commission<\/a>. The removal of non-tariff barriers and the levelling of the playing field between public and private companies should activate the private sector\u2019s potential for job creation and growth, the report suggests. \u201cStrong population growth amid low participation rates calls for a redoubling of efforts to make Egypt\u2019s post-COVID growth path more inclusive and sustainable, with the non-oil private sector at its core,\u201d the report reads.<\/p>\n

Egypt fared better during covid than its peers: <\/strong>Moderating inflation allowed for lower monetary policy rates. Foreign exchange reserves, meanwhile, were replenished to USD 40.3 bn<\/a> at the end of April, thanks in part to the government\u2019s FX-denominated Eurobond<\/a> and green bond<\/a> issuances last year, and exchange rates have remained fairly stable since early 2020. The fiscal deficit also enjoyed stability amid high uncertainty, the report says. While the initial stimulus deployed only amounted to 1.8% of GDP \u2014 comparatively less than in other countries \u2014 \u201can immediate policy response has helped the economy to withstand the worst repercussions and maintain a positive, albeit easing, growth profile.<\/p>\n

That said, Structural reform plans were hampered by covid-19:<\/strong> While Egypt\u2019s2016 IMF-supported reform program<\/a> left the country in a strong fiscal position as covid-19 took its toll on the global economy, the government had to shift its focus to stabilization, rather than building a more sustainable, inclusive economy, the report says. With Egypt still heavily dependent on the tourism and oil and gas sectors, bans on international travel and oil price slumps put pressure on Egypt\u2019s current account. Since the government\u2019s focus is geared towards macro stabilization, redoubled effort is needed to broaden and deepen the structural reform agenda of the renewed IMF program to achieve more sustainable and inclusive growth, the report suggests.<\/p>\n

Worryingly, the non-oil private sector struggled most, <\/strong>the report says. Even prior to the covid-19 crisis, the purchasing managers\u2019 index (PMI) had largely lingered just below the 50-point neutral threshold, in contrast to the general performance of the economy. April\u2019s reading came in at 47.7<\/a>, marking a fifth month of contractions for the country\u2019s non-oil private sector. The share of private businesses in total domestic credit almost halved between 2010 and 2020, with the industrial and service sectors suffering most. This is because in times of uncertainty, banks find it safer to lend to the public sector. \u201cWhile strong public sector involvement can dampen volatility in a crisis, it can also limit the breathing space of private sector activity,\u201d the report notes.<\/p>\n

But private sector employment potential is key to meeting the challenge of Egypt\u2019s ever growing population. <\/strong>The most recent unemployment data<\/a> puts Egypt\u2019s jobless population at 7.2%, but does not track the distribution of labor force participation across the public vs private sector. As per the report, it can be assumed that job losses sustained during covid-19 were mostly in the private sector, which could further skew labor force dynamics and result in severe labor market mismatches in the future. Moreover, employment increased in sectors with low added value and declining productivity. \u201cMore dynamic private sector employment and a better alignment between the educational system and labour market needs will be indispensable to meet the challenge of absorbing the large number of new entrants into the labour market each year,\u201d it states.<\/p>\n

So what do we need to do to sustainably and inclusively move forward? <\/strong>Firstly, capitalize on global value chain disruptions that occurred during covid. Given Egypt\u2019s strategic geographic location, Egypt could position itself as an attractive partner for international firms looking to strengthen links in the region, especially in the automotive, chemical and textile sectors.<\/p>\n

Secondly, remove trade barriers such as <\/strong>import bans<\/a><\/strong> and registration requirements to improve our competitiveness.<\/strong> This also includes automating customs procedures<\/a> \u2014 which the government has already initiated through the Customs Authority\u2019s new National Single Window for Foreign Trade Facilitation<\/a> \u2014 and streamlining customs services and storage royalties. Thirdly, leveling the playing field to nourish competition, which is already happening through the reform of competition policy legislation<\/a>.<\/p>\n

And finally, digitalize the economy, and fast.<\/strong> This will increase transparency, efficiency, social safety and healthcare services. The government has undertaken a number of recent efforts towards this goal, including reducing red tape for digital and SME lenders<\/a> and implementing upgrades to Egypt\u2019s network infrastructure<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Egypt needs to involve the non-oil private sector in its sustainable covid recovery plan, according to an economic brief by the European Commission. The removal of non-tariff barriers and the levelling of the playing field between public and private companies should activate the private sector\u2019s potential for job creation and growth, the report suggests. \u201cStrong […]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[10034],"tags":[107,104,633,729,272],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-566058","post","type-post","status-publish","format-standard","hentry","category-speed-round-economy","tag-covid-19","tag-economy","tag-enterprisepm","tag-european-commission","tag-imf","wpautop","entry"],"acf":{"mongo_id":"0a2901a4-cd43-488b-ba26-ecdf17051000","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[566052],"teaser":"","voice_url":""},"yoast_head":"\nEgypt\u2019s post-covid growth will need increased private sector involvement \u2013European Commission - 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\/2021\/05\/25\/egypts-post-covid-growth-will-need-increased-private-sector-involvement-european-commission\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt\u2019s post-covid growth will need increased private sector involvement \u2013European Commission\" \/>\n<meta property=\"og:description\" content=\"Egypt needs to involve the non-oil private sector in its sustainable covid recovery plan, according to an economic brief by the European Commission. The removal of non-tariff barriers and the levelling of the playing field between public and private companies should activate the private sector\u2019s potential for job creation and growth, the report suggests. \u201cStrong […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/25\/egypts-post-covid-growth-will-need-increased-private-sector-involvement-european-commission\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2021-05-25T14:02:01+00:00\" \/>\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=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/25\/egypts-post-covid-growth-will-need-increased-private-sector-involvement-european-commission\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/25\/egypts-post-covid-growth-will-need-increased-private-sector-involvement-european-commission\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Egypt\u2019s post-covid growth will need increased private sector involvement \u2013European Commission\",\"datePublished\":\"2021-05-25T14:02:01+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/25\/egypts-post-covid-growth-will-need-increased-private-sector-involvement-european-commission\/\"},\"wordCount\":744,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"covid-19\",\"economy\",\"EnterprisePM\",\"European Commission\",\"IMF\"],\"articleSection\":[\"SPEED ROUND: ECONOMY\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/25\/egypts-post-covid-growth-will-need-increased-private-sector-involvement-european-commission\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/25\/egypts-post-covid-growth-will-need-increased-private-sector-involvement-european-commission\/\",\"name\":\"Egypt\u2019s post-covid growth will need increased private sector involvement \u2013European Commission - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"datePublished\":\"2021-05-25T14:02:01+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/25\/egypts-post-covid-growth-will-need-increased-private-sector-involvement-european-commission\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/25\/egypts-post-covid-growth-will-need-increased-private-sector-involvement-european-commission\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/25\/egypts-post-covid-growth-will-need-increased-private-sector-involvement-european-commission\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Egypt\u2019s post-covid growth will need increased private sector involvement \u2013European Commission\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"name\":\"EnterpriseAM\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\",\"name\":\"EnterpriseAM\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/240894.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/240894.svg\",\"caption\":\"EnterpriseAM\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Egypt\u2019s post-covid growth will need increased private sector involvement \u2013European Commission - EnterpriseAM Egypt","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/25\/egypts-post-covid-growth-will-need-increased-private-sector-involvement-european-commission\/","og_locale":"en_US","og_type":"article","og_title":"Egypt\u2019s post-covid growth will need increased private sector involvement \u2013European Commission","og_description":"Egypt needs to involve the non-oil private sector in its sustainable covid recovery plan, according to an economic brief by the European Commission. The removal of non-tariff barriers and the levelling of the playing field between public and private companies should activate the private sector\u2019s potential for job creation and growth, the report suggests. \u201cStrong […]","og_url":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/25\/egypts-post-covid-growth-will-need-increased-private-sector-involvement-european-commission\/","og_site_name":"EnterpriseAM Egypt","article_published_time":"2021-05-25T14:02:01+00:00","author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/25\/egypts-post-covid-growth-will-need-increased-private-sector-involvement-european-commission\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/25\/egypts-post-covid-growth-will-need-increased-private-sector-involvement-european-commission\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"Egypt\u2019s post-covid growth will need increased private sector involvement \u2013European Commission","datePublished":"2021-05-25T14:02:01+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/25\/egypts-post-covid-growth-will-need-increased-private-sector-involvement-european-commission\/"},"wordCount":744,"publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"keywords":["covid-19","economy","EnterprisePM","European Commission","IMF"],"articleSection":["SPEED ROUND: ECONOMY"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/25\/egypts-post-covid-growth-will-need-increased-private-sector-involvement-european-commission\/","url":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/25\/egypts-post-covid-growth-will-need-increased-private-sector-involvement-european-commission\/","name":"Egypt\u2019s post-covid growth will need increased private sector involvement \u2013European Commission - EnterpriseAM Egypt","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/#website"},"datePublished":"2021-05-25T14:02:01+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/25\/egypts-post-covid-growth-will-need-increased-private-sector-involvement-european-commission\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/egypt\/2021\/05\/25\/egypts-post-covid-growth-will-need-increased-private-sector-involvement-european-commission\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/25\/egypts-post-covid-growth-will-need-increased-private-sector-involvement-european-commission\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/egypt\/"},{"@type":"ListItem","position":2,"name":"Egypt\u2019s post-covid growth will need increased private sector involvement \u2013European Commission"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/egypt\/#website","url":"https:\/\/enterpriseam.com\/egypt\/","name":"EnterpriseAM","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/egypt\/#organization","name":"EnterpriseAM","url":"https:\/\/enterpriseam.com\/egypt\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/240894.svg","contentUrl":"https:\/\/ent.news\/internal\/240894.svg","caption":"EnterpriseAM"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d","name":"enterpriseam admin","sameAs":["http:\/\/enterpriseam.testing.projectsarea.com"],"url":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"}]}},"featured_image_src":null,"featured_image_src_square":null,"author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":560437,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/28\/egypts-private-sector-will-lead-growth-in-five-years\/","url_meta":{"origin":566058,"position":0},"title":"Egypt\u2019s private sector will lead growth in five years","author":"enterpriseam admin","date":"28 February 2021","format":false,"excerpt":"Private sector investments will take the lead in Egypt\u2019s economy within five years, by which time public investments will be gradually tapered off, Prime Minister Moustafa Madbouly said at a webinar hosted by AmCham and the Egypt-US Business Council on Thursday. Over the next 3-5 years, the government will continue\u2026","rel":"","context":"In "Policy"","block_context":{"text":"Policy","link":"https:\/\/enterpriseam.com\/egypt\/category\/policy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/2\/388.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":556079,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/11\/world-bank-upgrades-egypts-post-covid-gdp-growth-outlook\/","url_meta":{"origin":566058,"position":1},"title":"World Bank upgrades Egypt\u2019s post-covid GDP growth outlook","author":"enterpriseam admin","date":"11 October 2021","format":false,"excerpt":"Egypt\u2019s economy is expected to grow 5.0% in FY2021-2022, up from the 3.3% in FY2020-2021, according to the World Bank\u2019s October 2021 MENA economic update(pdf). The World Bank\u2019s forecast marks an upward revision from its April economic update, when it said Egypt\u2019s GDP would grow at a 4.5% clip during\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":555719,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/24\/aiib-approves-usd-360-mn-loan-to-support-egypts-post-covid-economy\/","url_meta":{"origin":566058,"position":2},"title":"AIIB approves USD 360 mn loan to support Egypt\u2019s post-covid economy","author":"enterpriseam admin","date":"24 November 2021","format":false,"excerpt":"We\u2019re getting a USD 360 mn loan from AIIB: The Beijing-headquartered Asian Infrastructure Investment Bank (AIIB) has approved a USD 360 mn loan to support Egypt\u2019s post-covid economic recovery, according to a cabinet statement.The facility matches a separate USD 360 mn loan approved by the World Bank in October, under\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\/11\/581.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":557079,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/06\/egypts-private-sector-is-responding-to-rising-inflation-by-buying-a-lot\/","url_meta":{"origin":566058,"position":3},"title":"Egypt\u2019s private sector is responding to rising inflation by buying. A lot.","author":"enterpriseam admin","date":"6 September 2021","format":false,"excerpt":"Egypt\u2019s non-oil private sector shrank again in August, but at a slower pace than in July: Business activity in Egypt\u2019s non-oil private sector contracted for the ninth straight month in August \u2014 but a record surge in corporate spending and a pick-up in demand softened the decline, according to IHS\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\/71.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":564020,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/03\/private-sector-employment-is-up-for-first-time-in-20-months\/","url_meta":{"origin":566058,"position":4},"title":"Private sector employment is up for first time in 20 months","author":"enterpriseam admin","date":"3 August 2021","format":false,"excerpt":"Employment in Egypt\u2019s non-oil private sector rose for the first time since late 2019 in July, as firms looked to capitalize on the pickup in new orders last month, according to IHS Markit\u2019s purchasing managers\u2019 index survey (pdf). Heightened demand meant that the private sector built up a backlog for\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\/8\/351.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":555217,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/07\/ebrd-raises-egypts-fy-2021-2022-growth-outlook\/","url_meta":{"origin":566058,"position":5},"title":"EBRD raises Egypt\u2019s FY 2021-2022 growth outlook","author":"enterpriseam admin","date":"7 November 2021","format":false,"excerpt":"EBRD is more optimistic about Egypt\u2019s growth outlook: Egypt\u2019s economy is on track to grow 4.9% in FY2021-2022, the European Bank for Reconstruction and Development (EBRD) said in its latest Regional Economic Prospects report (pdf) on Thursday. This is an upwards revision of 0.4 percentage points from the bank\u2019s June\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\/11\/345.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\/566058","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=566058"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/566058\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/566052"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=566058"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=566058"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=566058"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=566058"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=566058"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}