{"id":585774,"date":"2023-04-30T00:00:00","date_gmt":"2023-04-30T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/04\/30\/economy-set-to-grow-4-0-this-fiscal-year-reuters\/"},"modified":"2023-04-30T00:00:00","modified_gmt":"2023-04-30T00:00:00","slug":"economy-set-to-grow-4-0-this-fiscal-year-reuters","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/04\/30\/economy-set-to-grow-4-0-this-fiscal-year-reuters\/","title":{"rendered":"Economy set to grow 4.0% this fiscal year -Reuters"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">Egypt\u2019s economy will grow at a 4.0% clip in the current fiscal year<\/span><span style=\"\">,<\/span><span style=\"\">per the <\/span><span>median forecast in an April poll conducted by <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.reuters.com\/world\/africa\/egypts-economy-seen-growing-4-this-fiscal-year-currency-weakens-2023-04-27\/#:~:text=CAIRO%2C%20April%2027%20(Reuters),forecast%20for%20the%20current%20year.\" style=\"\">Reuters<\/a><\/span><span>. The figure is in line with the latest <\/span><span style=\"\">expectations from the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b03aea9c-e969-4c2b-b3fa-81b070dd812d\" style=\"\">government<\/a><\/span><span style=\"\">, <\/span><span style=\"\">the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ee8ce1f3-29e5-4eba-99f3-e3fbea436095\" style=\"\">World Bank<\/a><\/span><span style=\"\"> and <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1180e838-be2d-4297-ac4d-4f179c21b3c1\" style=\"\">S&P Global Ratings<\/a><\/span><span style=\"\">, all<\/span><span style=\"\"> of whom have revised their forecasts for the country\u2019s GDP growth downwards in recent weeks as global economic headwinds continue to impact us here at home. A January Reuters poll had predicted <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c07707c9-cb74-42d5-9e9c-3207f3a64a2d\" style=\"\">growth of 4.8%<\/a><\/span><span style=\"font-weight:400;\"> this fiscal year, which ends in June. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Looking ahead:<\/span><span style=\"font-weight:400;\"> The Reuters poll predicts growth to pick up to 4.5% next fiscal year and 5.0% in FY 2024-2025. The economy grew at a 6.6% clip last fiscal year. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">More predictions from the poll:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:400;\">Headline inflation will average 24.0% in FY 2022-2023 and 20.9% next year before falling back to 9.3% the year after; <\/span><\/li>\n<li><span style=\"\">The EGP will weaken to<\/span><span style=\"font-weight:400;\"> USD 34 by the end of this year, USD 35 by the end of 2024, and USD 35.07 by the end of 2025; <\/span><\/li>\n<li><span style=\"\">Interest rates will rise by another 50 bps to 19.75% by the end of this fiscal year before falling back to 18<\/span><span style=\"\">.25<\/span><span style=\"font-weight:400;\">% by end-FY 2023-2024 and 13.75% by end-FY 2024-2025.<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Growth is set to pick up again in the next two years<\/p>\n","protected":false},"author":1,"featured_media":585775,"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":[104,72,348,182,349],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-585774","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-economy","tag-enterpriseam","tag-gdp","tag-inflation","tag-interest-rates","wpautop","entry"],"acf":{"mongo_id":"ff0b866e-7720-4a72-aa27-267d8faab995","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/4\/953.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egyptian economy to grow 4.0% in FY 2022-2023 -Reuters poll","related_issue":[585768],"teaser":"Growth is set to pick up again in the next two years","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/5\/.ead7bdf5-9fca-4818-8887-9a4b76f203e7.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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That\u2019s down from 6.6% last year, but above government forecasts. The Madbouly government is currently predicting GDP growth to come\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/1\/473.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":585705,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/04\/27\/this-evening-economy-to-grow-4-0-in-fy-2022-23-before-accelerating-in-the-next-two-fiscal-years-reuters-poll-suggests-dont-forget-to-change-your-clocks-at-midnight\/","url_meta":{"origin":585774,"position":1},"title":"THIS EVENING: Economy to grow 4.0% in FY 2022-23 before accelerating in the next two fiscal years, Reuters poll suggests + Don\u2019t forget to change your clocks at midnight","author":"enterpriseam admin","date":"27 April 2023","format":false,"excerpt":"Good afternoon, ladies and gents, and welcome to the end of this super-short week. We took the past two days as a gentle reminder of what work is like after a wonderful long Eid break. THE BIG STORY TODAY Egypt\u2019s economy will grow at a 4.5% clip in FY 2023-24,\u2026","rel":"","context":"In &quot;WHAT WE\u2019RE TRACKING TONIGHT&quot;","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/4\/921.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":585774,"position":2},"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 &quot;Economy&quot;","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":[]},{"id":570943,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/23\/egyptian-economy-to-grow-3-5-in-fy2020-2021-reuters-poll\/","url_meta":{"origin":585774,"position":3},"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. Growth for the current fiscal year will come in at 3%, a downgrade\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","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":585774,"position":4},"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 &quot;Economy&quot;","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":576522,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/11\/29\/economy-to-grow-at-2-8-4-clip-next-fiscal-year-maait-says\/","url_meta":{"origin":585774,"position":5},"title":"Economy to grow at 2.8-4% clip next fiscal year, Maait says","author":"enterpriseam admin","date":"29 November 2020","format":false,"excerpt":"Egypt\u2019s economy is expected to grow between 2.8-4% in FY2021-2022, Finance Minister Mohamed Maait told DMC over the weekend (watch, runtime: 8:28). The minister had previously said GDP growth would \u201crecover significantly\u201d at the start of FY2021-2022, but stopped short of giving a figure. The World Bank last month forecast\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/11\/292.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\/585774","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=585774"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/585774\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/585768"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/585775"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=585774"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=585774"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=585774"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=585774"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=585774"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}