{"id":595075,"date":"2019-09-16T03:40:38","date_gmt":"2019-09-16T03:40:38","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/16\/egypt-sees-its-economy-growing-by-around-8-by-2022\/"},"modified":"2019-09-16T03:40:38","modified_gmt":"2019-09-16T03:40:38","slug":"egypt-sees-its-economy-growing-by-around-8-by-2022","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/16\/egypt-sees-its-economy-growing-by-around-8-by-2022\/","title":{"rendered":"Egypt sees its economy growing by around 8% by 2022"},"content":{"rendered":"

<\/a> Egypt expects its economy to grow by around 8% by 2022<\/b>, Prime Minister Moustafa Madbouly said, according to a cabinet statement<\/a>. \u201cWe aim to increase economic growth gradually, to reach around 8% by 2022, while promoting the role of private investment as a driver of this growth amid efforts to improve the business environment,\u201d Madbouly said at the kickoff of a meeting of the Council of Arab Central Banks and Monetary Agencies Governors in Cairo on Sunday. The government is targeting GDP growth of 6% in FY2019-2020<\/a>, which began in July, up from 5.6% in the previous fiscal year<\/a>. Reuters also had the story<\/a>.<\/p>\n

Egypt\u2019s biggest obstacle to growth?<\/b> A challenging macro climate<\/b>, particularly as it pertains to emerging markets, Madbouly said in his opening remarks. Madbouly called out debt-ridden emerging markets as being a particular threat to investing in emerging markets as a whole. His speech places part of the blame for this macro climate on trade tensions between the US and China.<\/p>\n

How does Egypt plan to adapt to this climate? Staying the course of reform<\/b>, Madbouly said, specifying Egypt\u2019s efforts to improve the business climate through regulatory framework, and pushing government investments in a more sustainable direction through Egypt\u2019s sovereign wealth fund. He also praised the central bank\u2019s handing monetary policy as being instrumental in helping Egypt meet its growth targets.<\/p>\n

The meeting separately saw the discussion of a plan by the Arab Monetary Fund to set up a regional organization specialized in debt clearance<\/b>. The officials also discussed global and regional economic developments, central bank governance, the advent of digital currencies, banking regulations, and financial inclusion and innovation. You can read the final meeting statement here<\/a>, if you are so inclined.<\/p>\n","protected":false},"excerpt":{"rendered":"

Egypt expects its economy to grow by around 8% by 2022, Prime Minister Moustafa Madbouly said, according to a cabinet statement. \u201cWe aim to increase economic growth gradually, to reach around 8% by 2022, while promoting the role of private investment as a driver of this growth amid efforts to improve the business environment,\u201d Madbouly […]<\/p>\n","protected":false},"author":1,"featured_media":595076,"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":[72,348,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-595075","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-enterpriseam","tag-gdp","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"c6dde0e7-0197-4583-8f32-b6eb7e70962e","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2019\/9\/504.jpeg","photo_position":"above","related_issue":[595070],"teaser":"","voice_url":""},"yoast_head":"\nEgypt sees its economy growing by around 8% by 2022 - 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GDP growth in the first quarter of the state\u2019s current fiscal year (which starts in July) came despite continued global headwinds thanks to the pandemic, the war in Ukraine, and climate change, Planning\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\/2022\/11\/471.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":543775,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/17\/9-economic-growth-hedging-wheat-and-privatization-get-air-time-in-pms-presser\/","url_meta":{"origin":595075,"position":1},"title":"9% economic growth, hedging wheat, and privatization get air time in PM\u2019s presser","author":"enterpriseam admin","date":"17 February 2022","format":false,"excerpt":"Egypt\u2019s economy grew at a 9% clip in 1H2021-2022, with 8.3% growth during the second quarter of the current fiscal year, Prime Minister Moustafa Madbouly said at a presser yesterday (watch, runtime: 1:09:38). By comparison, our GDP growth came in at 1.3% in 1H2020-2021, Planning Minister Hala El Said said,\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\/2022\/2\/240.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":579278,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/01\/imf-trims-egypt-growth-forecast\/","url_meta":{"origin":595075,"position":2},"title":"IMF trims Egypt growth forecast","author":"enterpriseam admin","date":"1 February 2023","format":false,"excerpt":"The IMF has cut its economic growth forecast for Egypt, saying it sees GDP growing 4.0% this year, a 0.4 percentage point trim from its previous forecast in October, according to its updated World Economic Outlook released yesterday (here and here, pdf). That\u2019s in line with forecasts from the Madbouly\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\/2023\/2\/3.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":582909,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/15\/growth-slows-in-2q-2022-2023\/","url_meta":{"origin":595075,"position":3},"title":"Growth slows in 2Q 2022-2023","author":"enterpriseam admin","date":"15 March 2023","format":false,"excerpt":"The economy expanded at a 8.3% clip in the same period last year","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\/3\/Cairo-1600px.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":571843,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/02\/egypts-gdp-to-grow-2-5-this-fiscal-year-3-7-in-the-next-one-focuseconomics\/","url_meta":{"origin":595075,"position":4},"title":"Egypt\u2019s GDP to grow 2.5% this fiscal year, 3.7% in the next one -FocusEconomics","author":"enterpriseam admin","date":"2 June 2020","format":false,"excerpt":"Egypt\u2019s GDP to end current fiscal year with 2.5% growth, record 3.7% in FY2020-2021 -FocusEconomics: Egypt\u2019s GDP growth is expected to clock in at 2.5% this fiscal year, which wraps on 31 June, according to revised forecasts from Spain-based FocusEconomics picked up by the local press. The research firm expects\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\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":546447,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/17\/govt-lowers-economic-growth-target-for-next-fiscal-year-plus-remittances-were-up-again-in-march\/","url_meta":{"origin":595075,"position":5},"title":"Gov\u2019t lowers economic growth target for next fiscal year Plus: Remittances were up again in March","author":"enterpriseam admin","date":"17 May 2022","format":false,"excerpt":"The Madbouly government has cut its 2022-2023 growth forecast to 4.5% from 5.5%, a cabinet statement quoted Prime Minister Moustafa Madbouly as saying yesterday. The government was predicting 5.5% growth in the coming fiscal year as recently as last week, when it published its draft budget.Russia\u2019s war in Ukraine has\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\/2022\/5\/209.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\/595075","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=595075"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/595075\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/595070"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/595076"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=595075"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=595075"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=595075"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=595075"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=595075"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}