{"id":611223,"date":"2023-12-04T00:00:00","date_gmt":"2023-12-04T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/12\/04\/govt-downgrades-2023-24-growth-forecast\/"},"modified":"2023-12-04T00:00:00","modified_gmt":"2023-12-04T00:00:00","slug":"govt-downgrades-2023-24-growth-forecast","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/12\/04\/govt-downgrades-2023-24-growth-forecast\/","title":{"rendered":"Gov\u2019t downgrades 2023-24 growth forecast"},"content":{"rendered":"

Lower growth ahead: <\/strong>The Madbouly government has downgraded its growth forecast for the current fiscal year by 0.7 percentage points, according to statements made by Planning Minister Hala El Said to CNBC Arabia yesterday (watch, runtime: 11:48<\/a>). The minister said she expected the economy to grow at a 3.5% clip in the fiscal year ending June 2024, down from her previous 4.2% forecast<\/a> made last month.<\/p>\n

What she said:<\/strong> \u201cThis forecast may increase a little or decrease a little depending on the impact of the war on our borders,\u201d El Said said.<\/p>\n

This is more in line with what international monitors are saying:<\/strong> The IMF<\/a>, the World Bank<\/a> and S&P Global<\/a> have in recent weeks forecast 3.5-3.7% growth in FY 2023-24.<\/p>\n","protected":false},"excerpt":{"rendered":"

The country\u2019s planning minister has forecast 3.5% growth this fiscal year, a 0.7 percentage-point downgrade from her previous estimate last month<\/p>\n","protected":false},"author":1,"featured_media":611224,"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":[104,72,348,727],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-611223","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-economy","tag-enterpriseam","tag-gdp","tag-hala-el-said","wpautop","entry"],"acf":{"mongo_id":"82b04b9f-4f92-4d51-a562-bd3cb27436bf","order":"0","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/12\/159.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egyptian government cuts 2023-24 growth forecast","related_issue":[611212],"teaser":"The country\u2019s planning minister has forecast 3.5% growth this fiscal year, a 0.7 percentage-point downgrade from her previous estimate last month","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/12\/.fcb82a38-9f69-4ede-9d6b-0cd054d3c877.mp3"},"yoast_head":"\nGov\u2019t downgrades 2023-24 growth forecast - 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The state\u2019s fiscal year runs 1 July-30 June.The economy grew faster last year than gov\u2019t was\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\/8\/410.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":555712,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/24\/govt-upgrades-2021-2022-growth-forecast\/","url_meta":{"origin":611223,"position":2},"title":"Gov\u2019t upgrades 2021-2022 growth forecast","author":"enterpriseam admin","date":"24 November 2021","format":false,"excerpt":"The government is predicting growth of 5.6% in the current 2021-2022 fiscal year, Planning Minister Hala El Said said at EFG Hermes\u2019 Egypt Day conference yesterday, according to a ministry statement. The projection marks an upwards revision of a previous prediction for 5.4% growth.The state is slightly more optimistic on\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\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":573171,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/07\/22\/analysts-see-egyptian-economy-growing-at-a-3-1-clip-in-the-2020-2021-fiscal-year\/","url_meta":{"origin":611223,"position":3},"title":"Analysts see Egyptian economy growing at a 3.1% clip in the 2020-2021 fiscal year","author":"enterpriseam admin","date":"22 July 2020","format":false,"excerpt":"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,\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\/183.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":543898,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/23\/govt-again-ups-2021-2022-growth-forecast\/","url_meta":{"origin":611223,"position":4},"title":"Gov\u2019t again ups 2021-2022 growth forecast","author":"enterpriseam admin","date":"23 February 2022","format":false,"excerpt":"Egypt\u2019s economy is expected to grow 6.2-6.5% in FY2021-2022, marking an upwards revision from the previously expected 6%, Planning Minister Hala El Said said yesterday, according to a statement. The economy grew 3.3% during FY2020-2021, according to official figures.The upwards revision comes after 2Q2021-2022 growth exceeded expectations to record 8.3%,\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\/332.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":543432,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/01\/govt-ups-2021-2022-growth-forecast-to-6\/","url_meta":{"origin":611223,"position":5},"title":"Gov\u2019t ups 2021-2022 growth forecast to 6%","author":"enterpriseam admin","date":"1 February 2022","format":false,"excerpt":"Gov\u2019t ups growth forecast: The Planning Ministry has upgraded its FY2021-2022 growth forecast for the Egyptian economy to 6% or more, from 5.6%, minister Hala El Said told Bloomberg Asharq yesterday.This would be almost double last year\u2019s growth: The economy grew 3.3% during FY 2020-2021, according to official figures.The forecast\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\/3.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\/611223","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=611223"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/611223\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/611212"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/611224"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=611223"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=611223"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=611223"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=611223"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=611223"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}