{"id":597714,"date":"2019-05-02T04:11:11","date_gmt":"2019-05-02T04:11:11","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/02\/govt-revises-downwards-fy2018-19-growth-forecast-to-5-6\/"},"modified":"2019-05-02T04:11:11","modified_gmt":"2019-05-02T04:11:11","slug":"govt-revises-downwards-fy2018-19-growth-forecast-to-5-6","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/02\/govt-revises-downwards-fy2018-19-growth-forecast-to-5-6\/","title":{"rendered":"Gov\u2019t revises downwards FY2018-19 growth forecast to 5.6%"},"content":{"rendered":"

<\/a> EXCLUSIVE- FinMin revises FY2018-2019 growth forecast to 5.6%:<\/b> The Finance Ministry has revised downwards its growth forecast for FY2018-2019 to 5.6%, down from 5.8% previously, according to an official document seen by Enterprise. The budget deficit declined during the first nine months of the fiscal year to 5.3%, compared to 6.2% during the same period last year, while the primary budget surplus also increased to 0.74% of GDP during the period, compared to 0.2% in the previous fiscal year, the document shows.<\/p>\n

A <\/b>Reuters<\/b><\/a> poll of economists last week predicted 5.5% growth in the current fiscal year<\/b>. \u201cStructural constraints are keeping the growth forecast slightly subdued,\u201d Nadene Johnson, an economist at NKC African Economics, told the newswire. Economists expect Egypt to grow 5.6% in the coming fiscal year \u2014 short of the 6% government target<\/a> in the FY2019-2020 draft budget \u2014 and 5.7% in FY2020-2021. Growth will be supported mostly by government investment in infrastructure projects, Naeem Brokerage economist Yara Elkahky said. \u201cHousehold consumption growth however, is expected to remain muted as purchasing power still remains tight,\u201d she said.<\/p>\n

Egypt\u2019s GDP grew at a 5.6% clip during the first half of the current fiscal year<\/b>, driven largely by the gas, ICT, and construction sectors, Finance Minister Mohamed Maait had announced earlier this month<\/a>. Projections for GDP growth in FY2018-19 from HSBC<\/a>, the European Bank for Reconstruction and Development<\/a>, Capital Economics<\/a>, Fitch Group\u2019s BMI Research<\/a>, and economists polled by Reuters<\/a> have ranged between 3.8% and 5.5%.<\/p>\n","protected":false},"excerpt":{"rendered":"

EXCLUSIVE- FinMin revises FY2018-2019 growth forecast to 5.6%: The Finance Ministry has revised downwards its growth forecast for FY2018-2019 to 5.6%, down from 5.8% previously, according to an official document seen by Enterprise. The budget deficit declined during the first nine months of the fiscal year to 5.3%, compared to 6.2% during the same period […]<\/p>\n","protected":false},"author":1,"featured_media":597715,"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":[279,72,348,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-597714","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-budget-watch","tag-enterpriseam","tag-gdp","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"be75c924-2806-42f3-a9d8-35b352900ca3","is_powered_by":true,"section_story_id":"b6712d1b-02ac-4d8a-a922-9c1c42bbf2fa","story_type":"1","photo_url":"https:\/\/ent.news\/2020\/10\/276.jpg","photo_position":"above","related_issue":[597707],"teaser":"","voice_url":""},"yoast_head":"\nGov\u2019t revises downwards FY2018-19 growth forecast to 5.6% - 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\/2019\/05\/02\/govt-revises-downwards-fy2018-19-growth-forecast-to-5-6\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gov\u2019t revises downwards FY2018-19 growth forecast to 5.6%\" \/>\n<meta property=\"og:description\" content=\"EXCLUSIVE- FinMin revises FY2018-2019 growth forecast to 5.6%: The Finance Ministry has revised downwards its growth forecast for FY2018-2019 to 5.6%, down from 5.8% previously, according to an official document seen by Enterprise. 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The primary surplus came at 0.7% of GDP during the first nine months of the fiscal year. The numbers came\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":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":597714,"position":1},"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":592909,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/12\/finance-ministry-eyes-6-4-growth-in-fy-2020-2021\/","url_meta":{"origin":597714,"position":2},"title":"Finance Ministry eyes 6.4% growth in FY 2020-2021","author":"enterpriseam admin","date":"12 November 2019","format":false,"excerpt":"BUDGET WATCH- FinMin says it\u2019s targeting 6.4% growth, 6.2% deficit next fiscal year: The Finance Ministry is eyeing GDP growth of 6.4% in FY2020-2021, up from a targeted 6% for the current fiscal year, according to the ministry\u2019s preliminary budget statement announced by cabinet yesterday. 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The\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\/2\/262.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":573214,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/07\/26\/egypt-records-3-8-economic-growth-for-fy2019-2020\/","url_meta":{"origin":597714,"position":4},"title":"Egypt records 3.8% economic growth for FY2019-2020","author":"enterpriseam admin","date":"26 July 2020","format":false,"excerpt":"The economy grew 3.8% in the state fiscal year that ended on 30 June, despite fallout from the covid-19 pandemic, according to preliminary figures published by Ittihadiya on Saturday. The figures, discussed during a meeting between President Abdel Fattah El Sisi and senior ministers at the weekend, surpass government forecasts\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\/7\/198.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":597714,"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\/597714","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=597714"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/597714\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/597707"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/597715"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=597714"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=597714"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=597714"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=597714"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=597714"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}