{"id":573171,"date":"2020-07-22T04:04:25","date_gmt":"2020-07-22T04:04:25","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/07\/22\/analysts-see-egyptian-economy-growing-at-a-3-1-clip-in-the-2020-2021-fiscal-year\/"},"modified":"2020-07-22T04:04:25","modified_gmt":"2020-07-22T04:04:25","slug":"analysts-see-egyptian-economy-growing-at-a-3-1-clip-in-the-2020-2021-fiscal-year","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/07\/22\/analysts-see-egyptian-economy-growing-at-a-3-1-clip-in-the-2020-2021-fiscal-year\/","title":{"rendered":"Analysts see Egyptian economy growing at a 3.1% clip in the 2020-2021 fiscal year"},"content":{"rendered":"

<\/a> Analysts see Egypt\u2019s economy growing at a 3.1% clip in FY2020-2021<\/strong>, according to a Reuters<\/a> poll, down from 3.5% in a similar survey the newswire carried in April<\/a>. Economists have revised downwards their growth expectations as the economic fallout from the pandemic \u2014 including the drop in tourism, remittance inflows, and foreign direct investment \u2014 takes its toll. That still leaves Egypt on track to be one of the only countries in the region<\/a> to grow its economy in the current fiscal year.<\/p>\n

Despite the downgrade, the poll is still more optimistic than the government\u2019s outlook:<\/strong> Planning Minister Hala El Said revised downwards the growth forecast for the current fiscal year to 2% in May<\/a>, down from the 3.5% that was forecast in April<\/a>. The April forecast was based on a scenario where the pandemic would have largely abated by June. The state budget for FY2020-2021, which was prepared back in November and before the pandemic broke out, had penciled in 4.5% growth<\/a>. The Finance Ministry made it clear<\/a> that the budget\u2019s key figures, including growth assumptions, would be revised as the economic impact of the pandemic becomes clearer.<\/p>\n

The economy is poised to bounce back next fiscal year, when economists see growth recovering to 5%.<\/strong> The pandemic will continue to be a drag on the economy through 1H2020-2021, but these effects will eventually begin to wear off and the economy will rebound by capitalizing on reforms that were put in place between 2016 and 2019, says HC Securities. Inflation is expected to average at 7% in FY2020-2021 and FY2021-2022.<\/p>\n","protected":false},"excerpt":{"rendered":"

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, and foreign direct investment \u2014 […]<\/p>\n","protected":false},"author":1,"featured_media":573172,"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":[107,104,72,348,8808,182,2380,238],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-573171","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-covid-19","tag-economy","tag-enterpriseam","tag-gdp","tag-growth-forecast","tag-inflation","tag-speed-round","tag-tourism","wpautop","entry"],"acf":{"mongo_id":"08a1f691-10f9-404b-86ff-d972aa0bb415","is_powered_by":true,"section_story_id":"3b17a745-1dca-4de3-9980-31586c12756b","story_type":"1","photo_url":"https:\/\/ent.news\/2020\/7\/183.jpg","photo_position":"above","related_issue":[573164],"teaser":"","voice_url":""},"yoast_head":"\nAnalysts see Egyptian economy growing at a 3.1% clip in the 2020-2021 fiscal year - 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\/07\/22\/analysts-see-egyptian-economy-growing-at-a-3-1-clip-in-the-2020-2021-fiscal-year\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Analysts see Egyptian economy growing at a 3.1% clip in the 2020-2021 fiscal year\" \/>\n<meta property=\"og:description\" content=\"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. 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This is a downwards revision from the 3.3% growth economists predicted in the last poll the newswire conducted in October. 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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":585774,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/04\/30\/economy-set-to-grow-4-0-this-fiscal-year-reuters\/","url_meta":{"origin":573171,"position":2},"title":"Economy set to grow 4.0% this fiscal year -Reuters","author":"enterpriseam admin","date":"30 April 2023","format":false,"excerpt":"Growth is set to pick up again in the next two years","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\/953.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":556369,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/24\/egyptian-economy-to-grow-5-1-this-fiscal-year-reuters-poll\/","url_meta":{"origin":573171,"position":3},"title":"Egyptian economy to grow 5.1% this fiscal year -Reuters poll","author":"enterpriseam admin","date":"24 October 2021","format":false,"excerpt":"Growth of the Egyptian economy will continue to accelerate in FY 2021-2022, expanding at a 5.1% clip before climbing to 5.5% in the following two years as the country continues to recover from the covid-19 pandemic, according to a Reuters poll of analysts. The economy grew 3.3% in FY 2020-2021,\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\/10\/238.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":570345,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/03\/29\/egypt-cuts-gdp-growth-forecast-to-5-1-from-5-6-in-fy-2019-2020\/","url_meta":{"origin":573171,"position":4},"title":"Egypt cuts GDP growth forecast to 5.1% from 5.6% in FY 2019-2020","author":"enterpriseam admin","date":"29 March 2020","format":false,"excerpt":"Gov\u2019t revises downwards economic growth forecast this fiscal year to 5.1%: The government has cut its GDP growth forecast for the fiscal year ending in June 2020 to 5.1% from 5.6% as the covid-19 outbreak takes its toll on the global economy, said Planning Minister Hala El Said, according 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\/3\/320.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":576359,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/11\/22\/govt-revises-fy2020-21-gdp-forecast-upwards-to-3-8\/","url_meta":{"origin":573171,"position":5},"title":"Gov\u2019t revises FY2020\/21 GDP forecast upwards to 3.8%","author":"enterpriseam admin","date":"22 November 2020","format":false,"excerpt":"Gov\u2019t GDP forecast revised upwards:The government expects the economy to grow at a 3.5-3.8% clip in the current fiscal year, Deputy Planning Minister Ahmed Kamaly said on the sidelines of an energy conference yesterday. The range is higher than the outlook offered by Finance Minister Mohamed Maait earlier this month,\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\/11\/223.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\/573171","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=573171"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/573171\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/573164"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/573172"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=573171"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=573171"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=573171"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=573171"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=573171"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}