{"id":567503,"date":"2020-01-26T03:57:37","date_gmt":"2020-01-26T03:57:37","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/26\/egypts-economy-to-grow-at-5-8-in-fy-2019-20-poll\/"},"modified":"2020-01-26T03:57:37","modified_gmt":"2020-01-26T03:57:37","slug":"egypts-economy-to-grow-at-5-8-in-fy-2019-20-poll","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/26\/egypts-economy-to-grow-at-5-8-in-fy-2019-20-poll\/","title":{"rendered":"Egypt\u2019s economy to grow at 5.8% in FY 2019-20 -poll"},"content":{"rendered":"

<\/a> Egypt\u2019s economic growth will accelerate to 5.8% in the current fiscal year<\/strong>, up from 5.6% in FY2018-2019, a Reuters poll finds<\/a>. This prediction is in line with the Finance Ministry\u2019s recently-update growth expectations<\/a> of 5.8-5.9%. The 20 economists polled by the newswire see the economy growing at 5.9% in the upcoming FY2020-2021.<\/p>\n

The forecast is an improvement from <\/strong>an October poll by the newswire<\/a><\/strong> that saw economists suggesting a growth rate of only 5.5% during the ongoing fiscal year, and 5.7% in FY2020-21. Last fiscal year, growth registered 5.6%.<\/p>\n

The improved outlook is supported by recovering household spending: <\/strong>\u201cWe expect a slight increase in household consumption accompanied by higher exports and lower imports,\u201d Naeem Brokerage\u2019s Allen Sandeep said.<\/p>\n

Despite this rosy outlook, the better part of our recent economic expansion was state-led.<\/strong> Non-oil private sector activity, as measured by the IHS \/ Markit Purchasing Managers' Index (PMI), has expanded in only six individual months since the government kicked off the IMF-backed economic reform program in November 2016. In December<\/a>, the PMI gauge showed activity has contracted for the fourth consecutive month.<\/p>\n

Analysts are also expecting inflation to speed up, despite forecasting the opposite in October<\/strong>, Reuters noted. Annual urban inflation will slow to 6.8% throughout FY2019-2020, but will edge up to 7.5% in FY2020-2021, and to 8.0% the following fiscal year, they predict. Inflation effectively doubled to 7.1% last month<\/a> due to rising food prices, after nosediving to 3.1% in October \u2014 its lowest level in nine years. \u201cDecember 2019\u2019s inflation print confirms our expectation that prices will continue to accelerate in months to come as favorable base effects diminish,\u201d NKC African\u2019s Callee Davis said.<\/p>\n

EGP to continue weakening until FY2021-2022 to EGP 17.08 per USD 1: <\/strong>The economists expect the USD exchange rate to end the fiscal year at EGP 16.10, up from 15.80 last Thursday. The EGP will then trade at 16.50 to the greenback by the end of FY2020-2021, and at EGP 17.08 by the end of FY2021-2022. Davis says we should begin to see the EGP\u2019s sustained 12-month appreciation come to an end this April as a USD 1 bn eurobond repayment is due.<\/p>\n

Finally, the poll sees the Central Bank of Egypt lowering key overnight lending rates to 11.75% in 2020<\/strong>, and further to 10.75% in 2021 and 2022. Earlier this month<\/a>, the CBE held its overnight deposit rate at 12.25% and its overnight lending rate at 13.25%.<\/p>\n","protected":false},"excerpt":{"rendered":"

Egypt\u2019s economic growth will accelerate to 5.8% in the current fiscal year, up from 5.6% in FY2018-2019, a Reuters poll finds. This prediction is in line with the Finance Ministry\u2019s recently-update growth expectations of 5.8-5.9%. The 20 economists polled by the newswire see the economy growing at 5.9% in the upcoming FY2020-2021. The forecast is […]<\/p>\n","protected":false},"author":1,"featured_media":567504,"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":[8572],"tags":[611,72,182,724,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-567503","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-enterprise-poll","tag-enterpriseam","tag-inflation","tag-monetary-policy","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"8d48a42a-cae1-40c8-9834-0f083b2dcc16","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2020\/1\/689.jpg","photo_position":"above","related_issue":[567498],"teaser":"","voice_url":""},"yoast_head":"\nEgypt\u2019s economy to grow at 5.8% in FY 2019-20 -poll - 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\/2020\/01\/26\/egypts-economy-to-grow-at-5-8-in-fy-2019-20-poll\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt\u2019s economy to grow at 5.8% in FY 2019-20 -poll\" \/>\n<meta property=\"og:description\" content=\"Egypt\u2019s economic growth will accelerate to 5.8% in the current fiscal year, up from 5.6% in FY2018-2019, a Reuters poll finds. 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The forecast is […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2020\/01\/26\/egypts-economy-to-grow-at-5-8-in-fy-2019-20-poll\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2020-01-26T03:57:37+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2020\/1\/689.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=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/01\/26\/egypts-economy-to-grow-at-5-8-in-fy-2019-20-poll\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/01\/26\/egypts-economy-to-grow-at-5-8-in-fy-2019-20-poll\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Egypt\u2019s economy to grow at 5.8% in FY 2019-20 -poll\",\"datePublished\":\"2020-01-26T03:57:37+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/01\/26\/egypts-economy-to-grow-at-5-8-in-fy-2019-20-poll\/\"},\"wordCount\":397,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/01\/26\/egypts-economy-to-grow-at-5-8-in-fy-2019-20-poll\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2020\/1\/689.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Enterprise Poll\",\"EnterpriseAM\",\"inflation\",\"monetary policy\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/01\/26\/egypts-economy-to-grow-at-5-8-in-fy-2019-20-poll\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2020\/01\/26\/egypts-economy-to-grow-at-5-8-in-fy-2019-20-poll\/\",\"name\":\"Egypt\u2019s economy to grow at 5.8% in FY 2019-20 -poll - 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The budget deficit declined during the first nine months of the fiscal year to 5.3%, compared 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\/10\/276.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":570943,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/23\/egyptian-economy-to-grow-3-5-in-fy2020-2021-reuters-poll\/","url_meta":{"origin":567503,"position":2},"title":"Egyptian economy to grow 3.5% in FY2020-2021 \u2013Reuters poll","author":"enterpriseam admin","date":"23 April 2020","format":false,"excerpt":"Egyptian economy to grow 3.5% in FY2020-2021 \u2013Reuters poll: Egypt\u2019s economy will grow at a 3.5% clip in FY2020-2021, down from 5.9% in a similar poll just three months ago, according to a Reuters poll of economists. 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The economists\u2019 forecast is more optimistic than the\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\/10\/290.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":567503,"position":4},"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":[]},{"id":563870,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/27\/egyptian-economy-to-grow-5-this-fiscal-year-reuters-poll\/","url_meta":{"origin":567503,"position":5},"title":"Egyptian economy to grow 5% this fiscal year -Reuters poll","author":"enterpriseam admin","date":"27 July 2021","format":false,"excerpt":"Egypt will grow at a 5% clip in FY2021-2022, according to a Reuters survey of analysts and economists. The figure is the same as expected by analysts in a similar poll by the newswire in April, but is slightly below the 5.4% targeted by the government and the 5.2% 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\/2021\/7\/261.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\/567503","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=567503"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/567503\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/567498"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/567504"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=567503"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=567503"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=567503"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=567503"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=567503"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}