{"id":568290,"date":"2020-12-24T04:06:56","date_gmt":"2020-12-24T04:06:56","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/24\/covid-the-gift-that-keeps-on-giving\/"},"modified":"2020-12-24T04:06:56","modified_gmt":"2020-12-24T04:06:56","slug":"covid-the-gift-that-keeps-on-giving","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/24\/covid-the-gift-that-keeps-on-giving\/","title":{"rendered":"Covid: The gift that keeps on giving"},"content":{"rendered":"

<\/a> The global collapse of the tourism trade continued to weigh on economic growth in 1Q2020-2021: <\/strong>Egypt\u2019s economy grew only 0.7% during the first quarter of FY 2020-2021 and probably would have expanded at a 2.7% clip if it weren\u2019t for the tourism sector, which continued to reel from the effects of the lockdown in the previous quarter, Planning and Economic Development Minister Hala El Said said yesterday<\/a>.<\/p>\n

Logistics, agriculture, education, and healthcare all grew faster<\/strong> year-on-year, the minister noted.<\/p>\n

Manufacturing is still recovering <\/strong>and performed worse compared to the first quarter of last fiscal year, according to El Said. Growth in retail and telecommunications was flat.<\/p>\n

The economy is expected to close out the fiscal year with 2.8-3.5% growth, <\/strong>Finance Minister Mohamed Maait recently said<\/a>. Egypt\u2019s economy managed to avoid contraction, and is set to be the only MENA economy to eke out positive growth this calendar year, Fitch Solutions\u2019 recent monthly MENA outlook showed<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The global collapse of the tourism trade continued to weigh on economic growth in 1Q2020-2021: Egypt\u2019s economy grew only 0.7% during the first quarter of FY 2020-2021 and probably would have expanded at a 2.7% clip if it weren\u2019t for the tourism sector, which continued to reel from the effects of the lockdown in the […]<\/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":[7206],"tags":[107,104,72,727],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-568290","post","type-post","status-publish","format-standard","hentry","category-economy","tag-covid-19","tag-economy","tag-enterpriseam","tag-hala-el-said","wpautop","entry"],"acf":{"mongo_id":"25d427c0-fd9e-4e70-a4c2-e17a64361390","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[568282],"teaser":"","voice_url":""},"yoast_head":"\nCovid: The gift that keeps on giving - 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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":621449,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/08\/preliminary-govt-figures-show-egypts-gdp-growth-at-5-3-in-1q18-19\/","url_meta":{"origin":568290,"position":1},"title":"Preliminary gov\u2019t figures show Egypt\u2019s GDP growth at 5.3% in 1Q18-19","author":"enterpriseam admin","date":"8 November 2018","format":false,"excerpt":"Economy grew 5.3% in 1Q18-19, according to preliminary gov\u2019t figures: Egypt\u2019s GDP grew 5.3% y-o-y during the first quarter of FY2018-19, according to preliminary figures made public yesterday by Planning Minister Hala El Said told cabinet. 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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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/568290","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=568290"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/568290\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/568282"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=568290"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=568290"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=568290"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=568290"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=568290"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}