{"id":572029,"date":"2020-06-09T04:22:31","date_gmt":"2020-06-09T04:22:31","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/09\/world-bank-downgrades-egypts-gdp-growth-forecast-this-fiscal-year-to-3-0\/"},"modified":"2020-06-09T04:22:31","modified_gmt":"2020-06-09T04:22:31","slug":"world-bank-downgrades-egypts-gdp-growth-forecast-this-fiscal-year-to-3-0","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/09\/world-bank-downgrades-egypts-gdp-growth-forecast-this-fiscal-year-to-3-0\/","title":{"rendered":"World Bank downgrades Egypt\u2019s GDP growth forecast this fiscal year to 3.0%"},"content":{"rendered":"

<\/a> World Bank downgrades Egypt\u2019s GDP growth forecast to 3.0% for the fiscal year ending <\/strong>this month:<\/strong> The World Bank expects Egypt\u2019s economy to end the current fiscal year \u2014 which comes to a close on 30 June \u2014 with 3.0% growth, down from the 5.9% the bank had penciled in earlier this year<\/a>. According to the World Bank\u2019s June 2020 Global Economic Prospects report<\/strong>, the growth Egypt will achieve in FY2019-2020 will be buoyed by \u201cgenerally supportive activity\u201d before the onset of the pandemic, which has since been disrupted. The economy will expand at a slower pace of 2.1% in FY2020-2021. The World Bank had previously expected 6.0% growth in Egypt next fiscal year.<\/p>\n

Egypt and Djibouti are the only two MENA countries whose economies will not contract this fiscal year<\/strong>, and Egypt\u2019s forecasted growth this fiscal year is more than double Djibouti\u2019s 1.3%.<\/p>\n

The region\u2019s oil importers (including Egypt) are expected to fare better than oil exporters this year and next<\/strong>, but their economies remain reliant on tourism activity, leaving them vulnerable due to an anticipated drop in arrivals from key source areas, including Europe. The report also expects investments and exports to contract \u201camid weak global and domestic confidence and high policy uncertainty.\u201d<\/p>\n

Uncertainty and volatility of oil prices is also a downside risk for the region as a whole, the report says.<\/strong> While lower oil prices initially provided importers with a bit of current account relief, high volatility is taking a toll on investment and confidence, and prices remaining low \u201cwould also further erode MENA\u2019s already weak fiscal space and heavily constrain investment activity in the region, as oil prices and public investment often comove closely in MENA.\u201d<\/p>\n

In the medium term, staying the course on structural reforms to bump up investment<\/strong> is key for Egypt and the region at large. The report points to Egypt\u2019s economic reforms as being pro-growth and says financial sector reforms across the region will help improve the investment climate. \u201cBut success is contingent upon a sustained commitment to reforms, including by newly formed governments.\u201d<\/p>\n

The report sees emerging markets and developing economies turning in their weakest showing in 60 years this year<\/strong>, with a projected 2.5% contraction in 2020. \u201cThe current global recession is also unique in that global growth forecasts have been revised down more steeply and rapidly than in any other recessions since at least 1990.\u201d Emerging markets are expected to begin recovering in 2021<\/strong>, however, as trade and investment begin to firm up again and the effects of the pandemic begin to wane. Globally, the World Bank\u2019s baseline scenario sees \u201ca deep global recession\u201d in the cards for 2020<\/strong>, which would see global output contracting 5.2% \u2014 a decline nearly threefold that of 2009.<\/p>\n

The global economy would be positioned for a recovery in 2021 if lockdown measures are lifted by the end of this year<\/strong> around the world, even if some social distancing practices remain in place. \u201cThat said, the envisioned global recovery next year is moderate, with the level of global output in 2021 still 5.9% below that of January forecasts. This reflects various headwinds that will weigh on activity over the medium term.\u201d<\/p>\n

You can read the <\/strong>full report<\/a><\/strong> here (pdf) and the MENA chapter<\/a><\/strong> here (pdf). The press release is also available here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

World Bank downgrades Egypt\u2019s GDP growth forecast to 3.0% for the fiscal year ending this month: The World Bank expects Egypt\u2019s economy to end the current fiscal year \u2014 which comes to a close on 30 June \u2014 with 3.0% growth, down from the 5.9% the bank had penciled in earlier this year. According to […]<\/p>\n","protected":false},"author":1,"featured_media":572030,"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":[3346,5257,115,72,345,5256,2380,321],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-572029","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-developing-economies","tag-edme","tag-emerging-markets","tag-enterpriseam","tag-mena","tag-oil-importers","tag-speed-round","tag-world-bank","wpautop","entry"],"acf":{"mongo_id":"71312623-fdcc-4682-a544-f53c95c277a8","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2020\/6\/93.jpg","photo_position":"above","related_issue":[572024],"teaser":"","voice_url":""},"yoast_head":"\nWorld Bank downgrades Egypt\u2019s GDP growth forecast this fiscal year to 3.0% - 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\/06\/09\/world-bank-downgrades-egypts-gdp-growth-forecast-this-fiscal-year-to-3-0\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"World Bank downgrades Egypt\u2019s GDP growth forecast this fiscal year to 3.0%\" \/>\n<meta property=\"og:description\" content=\"World Bank downgrades Egypt\u2019s GDP growth forecast to 3.0% for the fiscal year ending this month: The World Bank expects Egypt\u2019s economy to end the current fiscal year \u2014 which comes to a close on 30 June \u2014 with 3.0% growth, down from the 5.9% the bank had penciled in earlier this year. According to […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2020\/06\/09\/world-bank-downgrades-egypts-gdp-growth-forecast-this-fiscal-year-to-3-0\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2020-06-09T04:22:31+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2020\/6\/93.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=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/06\/09\/world-bank-downgrades-egypts-gdp-growth-forecast-this-fiscal-year-to-3-0\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/06\/09\/world-bank-downgrades-egypts-gdp-growth-forecast-this-fiscal-year-to-3-0\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"World Bank downgrades Egypt\u2019s GDP growth forecast this fiscal year to 3.0%\",\"datePublished\":\"2020-06-09T04:22:31+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/06\/09\/world-bank-downgrades-egypts-gdp-growth-forecast-this-fiscal-year-to-3-0\/\"},\"wordCount\":550,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/06\/09\/world-bank-downgrades-egypts-gdp-growth-forecast-this-fiscal-year-to-3-0\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2020\/6\/93.jpg?fit=%2C&ssl=1\",\"keywords\":[\"developing economies\",\"EDME\",\"emerging markets\",\"EnterpriseAM\",\"MENA\",\"oil importers\",\"SPEED ROUND\",\"World Bank\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/06\/09\/world-bank-downgrades-egypts-gdp-growth-forecast-this-fiscal-year-to-3-0\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2020\/06\/09\/world-bank-downgrades-egypts-gdp-growth-forecast-this-fiscal-year-to-3-0\/\",\"name\":\"World Bank downgrades Egypt\u2019s GDP growth forecast this fiscal year to 3.0% - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/06\/09\/world-bank-downgrades-egypts-gdp-growth-forecast-this-fiscal-year-to-3-0\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/06\/09\/world-bank-downgrades-egypts-gdp-growth-forecast-this-fiscal-year-to-3-0\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2020\/6\/93.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2020-06-09T04:22:31+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/06\/09\/world-bank-downgrades-egypts-gdp-growth-forecast-this-fiscal-year-to-3-0\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/2020\/06\/09\/world-bank-downgrades-egypts-gdp-growth-forecast-this-fiscal-year-to-3-0\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/06\/09\/world-bank-downgrades-egypts-gdp-growth-forecast-this-fiscal-year-to-3-0\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2020\/6\/93.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2020\/6\/93.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/06\/09\/world-bank-downgrades-egypts-gdp-growth-forecast-this-fiscal-year-to-3-0\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"World Bank downgrades Egypt\u2019s GDP growth forecast this fiscal year to 3.0%\"}]},{\"@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":"World Bank downgrades Egypt\u2019s GDP growth forecast this fiscal year to 3.0% - 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\/2020\/06\/09\/world-bank-downgrades-egypts-gdp-growth-forecast-this-fiscal-year-to-3-0\/","og_locale":"en_US","og_type":"article","og_title":"World Bank downgrades Egypt\u2019s GDP growth forecast this fiscal year to 3.0%","og_description":"World Bank downgrades Egypt\u2019s GDP growth forecast to 3.0% for the fiscal year ending this month: The World Bank expects Egypt\u2019s economy to end the current fiscal year \u2014 which comes to a close on 30 June \u2014 with 3.0% growth, down from the 5.9% the bank had penciled in earlier this year. According to […]","og_url":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/09\/world-bank-downgrades-egypts-gdp-growth-forecast-this-fiscal-year-to-3-0\/","og_site_name":"EnterpriseAM Egypt","article_published_time":"2020-06-09T04:22:31+00:00","og_image":[{"url":"https:\/\/i0.wp.com\/ent.news\/2020\/6\/93.jpg?fit=%2C&ssl=1","type":"","width":"","height":""}],"author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/09\/world-bank-downgrades-egypts-gdp-growth-forecast-this-fiscal-year-to-3-0\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/09\/world-bank-downgrades-egypts-gdp-growth-forecast-this-fiscal-year-to-3-0\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"World Bank downgrades Egypt\u2019s GDP growth forecast this fiscal year to 3.0%","datePublished":"2020-06-09T04:22:31+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/09\/world-bank-downgrades-egypts-gdp-growth-forecast-this-fiscal-year-to-3-0\/"},"wordCount":550,"publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/09\/world-bank-downgrades-egypts-gdp-growth-forecast-this-fiscal-year-to-3-0\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2020\/6\/93.jpg?fit=%2C&ssl=1","keywords":["developing economies","EDME","emerging markets","EnterpriseAM","MENA","oil importers","SPEED ROUND","World Bank"],"articleSection":["Speed Round"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/09\/world-bank-downgrades-egypts-gdp-growth-forecast-this-fiscal-year-to-3-0\/","url":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/09\/world-bank-downgrades-egypts-gdp-growth-forecast-this-fiscal-year-to-3-0\/","name":"World Bank downgrades Egypt\u2019s GDP growth forecast this fiscal year to 3.0% - EnterpriseAM Egypt","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/09\/world-bank-downgrades-egypts-gdp-growth-forecast-this-fiscal-year-to-3-0\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/09\/world-bank-downgrades-egypts-gdp-growth-forecast-this-fiscal-year-to-3-0\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2020\/6\/93.jpg?fit=%2C&ssl=1","datePublished":"2020-06-09T04:22:31+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/09\/world-bank-downgrades-egypts-gdp-growth-forecast-this-fiscal-year-to-3-0\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/egypt\/2020\/06\/09\/world-bank-downgrades-egypts-gdp-growth-forecast-this-fiscal-year-to-3-0\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/09\/world-bank-downgrades-egypts-gdp-growth-forecast-this-fiscal-year-to-3-0\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2020\/6\/93.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2020\/6\/93.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/09\/world-bank-downgrades-egypts-gdp-growth-forecast-this-fiscal-year-to-3-0\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/egypt\/"},{"@type":"ListItem","position":2,"name":"World Bank downgrades Egypt\u2019s GDP growth forecast this fiscal year to 3.0%"}]},{"@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":"https:\/\/i0.wp.com\/ent.news\/2020\/6\/93.jpg?resize=600%2C400&ssl=1","featured_image_src_square":"https:\/\/i0.wp.com\/ent.news\/2020\/6\/93.jpg?resize=600%2C600&ssl=1","author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"},"jetpack_featured_media_url":"https:\/\/i0.wp.com\/ent.news\/2020\/6\/93.jpg?fit=%2C&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":584956,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/04\/09\/world-bank-downgrades-growth-forecasts-for-egypt-and-the-region-as-inflation-bites\/","url_meta":{"origin":572029,"position":0},"title":"World Bank downgrades growth forecasts for Egypt and the region as inflation bites","author":"enterpriseam admin","date":"9 April 2023","format":false,"excerpt":"Lender cuts GDP growth forecast from 4.8% to 4.0% in FY 2022-2023","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\/4\/329.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":607639,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/08\/world-bank-downgrades-egypt-growth-outlook-says-mena-is-on-an-unacceptably-low-growth-path\/","url_meta":{"origin":572029,"position":1},"title":"World Bank downgrades Egypt growth outlook + says MENA is on an \u201cunacceptably low\u201d growth path","author":"enterpriseam admin","date":"8 October 2023","format":false,"excerpt":"Egypt growth to slow to 3.7% this fiscal year, MENA as a whole will slow to 1.9% in 2023","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\/10\/361.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":613215,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/01\/10\/world-bank-downgrades-our-gdp-growth-for-fy-23-24-to-3-5\/","url_meta":{"origin":572029,"position":2},"title":"World Bank downgrades our GDP growth for FY 23\/24 to 3.5%","author":"enterpriseam admin","date":"10 January 2024","format":false,"excerpt":"Economic growth could be further hit by the extension of a regional conflict.","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\/2024\/1\/664.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":592682,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/04\/world-bank-sees-egypts-gdp-growth-outpacing-mena-average-this-year\/","url_meta":{"origin":572029,"position":3},"title":"World Bank sees Egypt\u2019s GDP growth outpacing MENA average this year","author":"enterpriseam admin","date":"4 November 2019","format":false,"excerpt":"The World Bank sees Egypt\u2019s economy growing 5.5% this year, outpacing the MENA average of 1.5%, according to the World Bank\u2019s annual report (pdf). The report singles out Egypt\u2019s \u201cstrong reforms on the fiscal and energy fronts\u201d as a key driver of higher growth than its regional peers. Egypt\u2019s GDP\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\/2019\/11\/2426.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":570418,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/03\/31\/iif-downgrades-egypts-2020-growth-forecast-to-2-7\/","url_meta":{"origin":572029,"position":4},"title":"IIF downgrades Egypt\u2019s 2020 growth forecast to 2.7%","author":"enterpriseam admin","date":"31 March 2020","format":false,"excerpt":"IIF downgrades Egypt\u2019s 2020 growth forecast to 2.7%: The Institute of International Finance (IIF) has revised downward its projection for Egypt\u2019s GDP growth this year to 2.7% from 5.4% due to headwinds caused by the covid-19 outbreak.Behind the dip: Lower economic growth will come on the back of a drop\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\/353.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":602627,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/02\/world-bank-sees-egypts-gdp-rising-6-in-2021\/","url_meta":{"origin":572029,"position":5},"title":"World Bank sees Egypt\u2019s GDP rising 6% in 2021","author":"enterpriseam admin","date":"2 April 2019","format":false,"excerpt":"World Bank sees Egypt\u2019s GDP growing 6% in 2021: Egypt\u2019s GDP will grow 5.8% in 2020 and 6.0% in 2021, the World Bank forecasts in its latest MENA report. This is a slower acceleration than the Finance Ministry projected in its draft FY2019-20 fiscal budget, which sees economic growth hitting\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\/2019\/4\/201.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\/572029","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=572029"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/572029\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/572024"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/572030"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=572029"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=572029"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=572029"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=572029"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=572029"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}