{"id":630340,"date":"2018-04-18T04:14:41","date_gmt":"2018-04-18T04:14:41","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/18\/world-bank-sees-egypts-gdp-growing-at-a-5-clip-in-2018\/"},"modified":"2018-04-18T04:14:41","modified_gmt":"2018-04-18T04:14:41","slug":"world-bank-sees-egypts-gdp-growing-at-a-5-clip-in-2018","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/18\/world-bank-sees-egypts-gdp-growing-at-a-5-clip-in-2018\/","title":{"rendered":"World Bank sees Egypt\u2019s GDP growing at a 5% clip in 2018"},"content":{"rendered":"<p><strong><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> The <\/strong><a href=\"http:\/\/documents.worldbank.org\/curated\/en\/124621523639496916\/pdf\/125251-MEM-April2018-Egypt-EN.pdf\"><strong>World Bank\u2019s Economic Outlook April 2018 report (pdf)<\/strong><\/a><strong> sees Egypt\u2019s real GDP growing 5% in FY2018<\/strong> and on track to climb to 5.8% by FY2020. \u201cGrowth is expected to be driven by resilient private consumption and investment, in addition to a gradual pickup in exports (notably from tourism and gas),\u201d the report says. The IMF expects the budget deficit to narrow to 9.8% of GDP in FY2018. \u201cThis is slightly higher than initially-budgeted, due to larger interest payments, higher international oil prices, and larger-than-budgeted exchange rates.\u201d The report acknowledges that fiscal consolidation has gotten a shot in the arm from the increases in VAT revenues and energy subsidy cuts. The current account deficit is expected to drop to 4.9% of GDP this year, from 6.6% of GDP in FY2017. The report also sees consumer price inflation reaching 22.1% in FY2018, then to 14.0% in FY2019 and 12.0% in FY2020. <a href=\"https:\/\/enterprise.press\/stories\/2018\/04\/11\/inflation-at-its-lowest-in-almost-two-years\/\">Annual headline inflation rates dropped to 13.1% in March<\/a>, the lowest they\u2019ve been in almost two years.<\/p>\n<p><strong>These figures are not that far off the finance Ministry\u2019s targets<\/strong>, which sees GDP growing 5.2% in FY2017-18 (which ends in June) <a href=\"https:\/\/enterprise.press\/stories\/2018\/04\/15\/govt-budget-bridging-is-out-sees-inflation-dropping-to-low-of-10-in-fy2018-19\/\">and rising to 5.8% in FY2018-19<\/a>. The budget deficit for the current fiscal year is projected to narrow to 9.8%, with expectations it will fall further to 8.4% in FY2018-19.<\/p>\n<p><strong>Extreme poverty in Egypt has practically been eradicated<\/strong>, <a href=\"http:\/\/www.worldbank.org\/en\/country\/egypt\/publication\/economic-outlook-april-2018\">notes the report<\/a>. \u201cUsing the national poverty threshold, about a third (27.8%) of the population was below the poverty line in 2015.\u201d<\/p>\n<p><strong>The report does note the toll inflation has taken on purchasing power of households<\/strong>, which it says is curbing \u201cpositive spillovers of economic growth and taking a toll on social and economic conditions.\u201d It also notes the disparity in distribution of poverty, with the poverty rate in rural Upper Egypt about 3x that of cities. \u201cRecent increases in allowances of the main social programs have helped weather the effects of inflation, but imperfect coverage and targeting leave some groups unprotected.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The World Bank\u2019s Economic Outlook April 2018 report (pdf) sees Egypt\u2019s real GDP growing 5% in FY2018 and on track to climb to 5.8% by FY2020. \u201cGrowth is expected to be driven by resilient private consumption and investment, in addition to a gradual pickup in exports (notably from tourism and gas),\u201d the report says. The [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":630341,"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":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-630340","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"b114a017-1aff-43ca-8537-4b1923098d4a","order":"0","is_powered_by":true,"section_story_id":"89b1530f-7777-463d-9a2e-1414ff12f035","story_type":"1","photo_url":"https:\/\/ent.news\/2018\/4\/1714.jpg","photo_position":"above","related_issue":[630331],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>World Bank sees Egypt\u2019s GDP growing at a 5% clip in 2018 - 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\/2018\/04\/18\/world-bank-sees-egypts-gdp-growing-at-a-5-clip-in-2018\/\" \/>\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 growing at a 5% clip in 2018\" \/>\n<meta property=\"og:description\" content=\"The World Bank\u2019s Economic Outlook April 2018 report (pdf) sees Egypt\u2019s real GDP growing 5% in FY2018 and on track to climb to 5.8% by FY2020. \u201cGrowth is expected to be driven by resilient private consumption and investment, in addition to a gradual pickup in exports (notably from tourism and gas),\u201d the report says. The [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/18\/world-bank-sees-egypts-gdp-growing-at-a-5-clip-in-2018\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2018-04-18T04:14:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2018\/4\/1714.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/18\/world-bank-sees-egypts-gdp-growing-at-a-5-clip-in-2018\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/18\/world-bank-sees-egypts-gdp-growing-at-a-5-clip-in-2018\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"World Bank sees Egypt\u2019s GDP growing at a 5% clip in 2018\",\"datePublished\":\"2018-04-18T04:14:41+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/18\/world-bank-sees-egypts-gdp-growing-at-a-5-clip-in-2018\/\"},\"wordCount\":331,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/18\/world-bank-sees-egypts-gdp-growing-at-a-5-clip-in-2018\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2018\/4\/1714.jpg?fit=%2C&ssl=1\",\"keywords\":[\"EnterpriseAM\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/18\/world-bank-sees-egypts-gdp-growing-at-a-5-clip-in-2018\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/18\/world-bank-sees-egypts-gdp-growing-at-a-5-clip-in-2018\/\",\"name\":\"World Bank sees Egypt\u2019s GDP growing at a 5% clip in 2018 - 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The government is targeting GDP growth of 6% in its next fiscal year, up from 5.5% this fiscal year. The\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":573294,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/07\/28\/fitch-affirms-egypts-long-term-fx-issuer-rating-at-b-outlook-stable\/","url_meta":{"origin":630340,"position":2},"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 &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\/2020\/7\/224.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":591928,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/22\/egypt-records-state-budget-deficit-of-2-1-in-1q2019-20\/","url_meta":{"origin":630340,"position":3},"title":"Egypt records state budget deficit of 2.1% in 1Q2019-20","author":"enterpriseam admin","date":"22 December 2019","format":false,"excerpt":"BUDGET WATCH- State records budget deficit of 2.1% in 1Q2019-20: The Finance Ministry\u2019s latest fiscal performance report (pdf) showed a budget deficit of EGP 131.5 bn (2.1% of GDP) in the first quarter of FY2019-2020, compared to EGP 102.4 bn (1.9%) in July-September of FY2018-2019. Revenues for the quarter came\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":598693,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/02\/egypts-budget-deficit-hits-5-3-of-gdp-in-9m2018-2019\/","url_meta":{"origin":630340,"position":4},"title":"Egypt\u2019s budget deficit hits 5.3% of GDP in 9M2018-2019","author":"enterpriseam admin","date":"2 June 2019","format":false,"excerpt":"Egypt\u2019s budget deficit fell to 5.3% of GDP in 9M2018-2019, compared to 6.2% in the same period the previous year, the Finance Ministry said in its April monthly bulletin (pdf). 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 &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":569315,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/20\/egypts-gdp-growth-reached-5-6-in-1h2019-2020\/","url_meta":{"origin":630340,"position":5},"title":"Egypt's GDP growth reached 5.6% in 1H2019-2020","author":"enterpriseam admin","date":"20 February 2020","format":false,"excerpt":"Egypt's economy grew at a 5.6% clip in 1H2019-2020, Planning Minister Hala El Saidtold cabinet yesterday. Retail was the primary driver of growth during the first six months of the fiscal year, accounting for 14.7% of the period\u2019s economic expansion, followed by the industrial sector (12.6%) and agriculture (12%). The\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\/2020\/2\/262.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\/630340","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=630340"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/630340\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/630331"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/630341"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=630340"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=630340"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=630340"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=630340"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=630340"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}