{"id":602627,"date":"2019-04-02T04:05:55","date_gmt":"2019-04-02T04:05:55","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/02\/world-bank-sees-egypts-gdp-rising-6-in-2021\/"},"modified":"2019-04-02T04:05:55","modified_gmt":"2019-04-02T04:05:55","slug":"world-bank-sees-egypts-gdp-rising-6-in-2021","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/02\/world-bank-sees-egypts-gdp-rising-6-in-2021\/","title":{"rendered":"World Bank sees Egypt\u2019s GDP rising 6% in 2021"},"content":{"rendered":"

<\/a> World Bank sees Egypt\u2019s GDP growing 6% in 2021:<\/b> Egypt\u2019s GDP will grow 5.8% in 2020 and 6.0% in 2021, the World Bank forecasts in its latest MENA report<\/a>. This is a slower acceleration than the Finance Ministry projected in its draft FY2019-20 fiscal budget<\/a>, which sees economic growth hitting 6% at the end of the coming fiscal year. The bank also sees the government falling just short of its 7.2% budget deficit target in FY2019-20, instead predicting a deficit of 7.5% next year and 7.0% in FY2020-21.<\/p>\n

Inflation will gradually decline over the next three years:<\/b> The World Bank forecasts average annual inflation of 14.5% this year, 12.5% in 2020 and 10.7% in 2021.<\/p>\n

The outlook sees Egypt\u2019s current account stabilizing over the medium term,<\/b> but warns that the end of the IMF program in June and falling yields on government bonds will put pressure on the capital and financial accounts.<\/p>\n

Fiscal risks:<\/b> Financially-weak state-owned organizations, government pension contributions and increasing interest payments will continue to pose fiscal risks. The automatic fuel price mechanism which came into effect yesterday<\/a> will meanwhile help to mitigate the effects of oil price volatility.<\/p>\n

Overbearing regulations, non-tariff trade barriers and the preferential treatment given to state companies<\/b> will continue to hamper private sector growth. \u201cThe main challenge is to lift these binding constraints and create a level-playing field where competition can thrive,\u201d the report notes.<\/p>\n

The regional outlook isn\u2019t quite as promising:<\/b> The World Bank projects MENA GDP to dip slightly to 1.5% this year from 1.6% in 2018. Growth will then pick up to 3.4% in 2020 and 2.7% in 2021. \u201cMENA countries should be growing at least twice the rates they currently do,\u201d the bank\u2019s chief MENA economist, Rabah Arezki, said<\/a>. \u201cTo awaken its untapped potential, the region must transform its economies, strengthen market contestability and adopt a moonshot approach to the digital economy.\u201d<\/p>\n

Separately, the IMF\u2019s senior resident representative in Cairo Reza Baqir is quoted by a domestic press outlet<\/a> as saying Egypt\u2019s debt load is high relative to its emerging market counterparts <\/b>as it approaches 100% of GDP. Egypt has set a target of reducing public debt to 89% of GDP<\/a> in its upcoming 2019-2020 budget.<\/p>\n","protected":false},"excerpt":{"rendered":"

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 6% at the end of […]<\/p>\n","protected":false},"author":1,"featured_media":602628,"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":[72,656,1318,348,182,2380,321],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-602627","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-enterpriseam","tag-fiscal-budget","tag-fiscal-policy","tag-gdp","tag-inflation","tag-speed-round","tag-world-bank","wpautop","entry"],"acf":{"mongo_id":"cc035ca1-e115-425b-9c02-9559436a8bfe","is_powered_by":true,"section_story_id":"f861f9f5-9a4f-48e5-9a95-555801545114","story_type":"1","photo_url":"https:\/\/ent.news\/2019\/4\/201.jpg","photo_position":"above","related_issue":[602612],"teaser":"","voice_url":""},"yoast_head":"\nWorld Bank sees Egypt\u2019s GDP rising 6% in 2021 - 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\/04\/02\/world-bank-sees-egypts-gdp-rising-6-in-2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"World Bank sees Egypt\u2019s GDP rising 6% in 2021\" \/>\n<meta property=\"og:description\" content=\"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. 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medium-term economic targets as global macro headwinds build: The Finance Ministry is on track to specify \u201cmore realistic\u201d medium-term targets for Egypt\u2019s key macro indicators in light of a challenging outlook for global growth and volatility in emerging markets, according to official documents seen by\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\/1\/773.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":596827,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/09\/economic-growth-to-remain-stable-over-the-coming-two-years-nbk\/","url_meta":{"origin":602627,"position":1},"title":"Economic growth to remain stable over the coming two years -NBK","author":"enterpriseam admin","date":"9 July 2019","format":false,"excerpt":"Economic growth to remain stable over the coming two 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Stimulus measures pushed out by the central bank and the Finance\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\/2020\/12\/173.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":573294,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/07\/28\/fitch-affirms-egypts-long-term-fx-issuer-rating-at-b-outlook-stable\/","url_meta":{"origin":602627,"position":3},"title":"Fitch affirms Egypt\u2019s long-term FX issuer rating at B+; outlook stable","author":"enterpriseam admin","date":"28 July 2020","format":false,"excerpt":"Fitch Ratings affirmed yesterday Egypt\u2019s long-term foreign-currency issuer default rating at \u2018B+\u2019 with a \u2018stable\u2019 outlook. The ratings agency said that Egypt\u2019s \u201crecent track record of fiscal and economic reforms, policy commitment to furthering the reform program and ready availability of fiscal and external financing in the face of 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\/7\/224.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":564979,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/10\/fitch-gives-long-term-fx-debt-outlook-a-%f0%9f%91%8d\/","url_meta":{"origin":602627,"position":4},"title":"Fitch gives long-term FX debt outlook a ?","author":"enterpriseam admin","date":"10 March 2021","format":false,"excerpt":"Fitch Ratings affirmed Egypt\u2019s long-term FX issuer default rating at \u2018B+\u2019 with a \u2018stable\u2019 outlook. The outlook is supported by the country\u2019s track record of fiscal and economic reforms, which authorities continued to enact, and a large economy, \u201cwhich has demonstrated stability and resilience through the global health crisis,\u201d the\u2026","rel":"","context":"In "SPEED ROUND: MACRO"","block_context":{"text":"SPEED ROUND: MACRO","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-macro\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/3\/440.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":572029,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/09\/world-bank-downgrades-egypts-gdp-growth-forecast-this-fiscal-year-to-3-0\/","url_meta":{"origin":602627,"position":5},"title":"World Bank downgrades Egypt\u2019s GDP growth forecast this fiscal year to 3.0%","author":"enterpriseam admin","date":"9 June 2020","format":false,"excerpt":"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\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\/6\/93.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\/602627","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=602627"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/602627\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/602612"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/602628"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=602627"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=602627"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=602627"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=602627"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=602627"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}