{"id":634349,"date":"2018-01-14T04:01:51","date_gmt":"2018-01-14T04:01:51","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/14\/govt-revises-economic-growth-forecasts-for-fy2017-18\/"},"modified":"2018-01-14T04:01:51","modified_gmt":"2018-01-14T04:01:51","slug":"govt-revises-economic-growth-forecasts-for-fy2017-18","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/14\/govt-revises-economic-growth-forecasts-for-fy2017-18\/","title":{"rendered":"Gov\u2019t revises economic growth forecasts for FY2017-18"},"content":{"rendered":"

<\/a> The Planning Ministry has revised Egypt\u2019s economic growth figure for <\/strong>FY2017-18 to 5.3-5.5% from <\/strong>a previous 5-5.25%<\/strong><\/a>, Minister Hala El Said announced on Saturday, according to Reuters<\/a>. GDP growth \u201cwas expected to have grown 5.2-5.3% in the second quarter that ended in December,\u201d according to El Said, who also said that the government is aiming for average GDP growth levels of 6% in FY2018-19. Egypt is also \u201ctargeting a 20% rise in total investment for FY2018-19, up from EGP 646 bn (USD 36.58 bn) targeted for FY2017-18,\u201d the minister added.<\/p>\n

Misplaced optimism when it comes to inflation figures? <\/strong>The revised forecasts followed the announcement<\/a> of a sharp drop in monthly inflation levels in December, which fell to -0.2% \u2014 the lowest rate in two years \u2014 largely driven by a decrease in prices of staples including red meat, poultry, vegetables, and lentils. Some economists tell Reuters<\/a> that \u201cthe inflation drop is the result of a strong base effect, and not necessarily a meaningful economic recovery.\u201d <\/strong>Beltone Financial\u2019s Alia Mahmoud says the decrease could just be a sign of weak demand for certain products, meaning that purchasing power has not yet recovered fully. \u201cSegments of society have shifted from meat to cheese as a source of protein,\u201d CI Capital Asset Management\u2019s Noaman Khalid explains, stressing that \u201ca complete economic cycle that includes business recovery and increased wages is necessary before purchasing power returns to pre-float levels.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

The Planning Ministry has revised Egypt\u2019s economic growth figure for FY2017-18 to 5.3-5.5% from a previous 5-5.25%, Minister Hala El Said announced on Saturday, according to Reuters. GDP growth \u201cwas expected to have grown 5.2-5.3% in the second quarter that ended in December,\u201d according to El Said, who also said that the government is aiming […]<\/p>\n","protected":false},"author":1,"featured_media":0,"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-634349","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"6e598680-4d26-4fcb-85f7-8af7dd9e28c0","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[634343],"teaser":"","voice_url":""},"yoast_head":"\nGov\u2019t revises economic growth forecasts for FY2017-18 - 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\/01\/14\/govt-revises-economic-growth-forecasts-for-fy2017-18\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gov\u2019t revises economic growth forecasts for FY2017-18\" \/>\n<meta property=\"og:description\" content=\"The Planning Ministry has revised Egypt\u2019s economic growth figure for FY2017-18 to 5.3-5.5% from a previous 5-5.25%, Minister Hala El Said announced on Saturday, according to Reuters. GDP growth \u201cwas expected to have grown 5.2-5.3% in the second quarter that ended in December,\u201d according to El Said, who also said that the government is aiming […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2018\/01\/14\/govt-revises-economic-growth-forecasts-for-fy2017-18\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2018-01-14T04:01:51+00:00\" \/>\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=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/01\/14\/govt-revises-economic-growth-forecasts-for-fy2017-18\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/01\/14\/govt-revises-economic-growth-forecasts-for-fy2017-18\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Gov\u2019t revises economic growth forecasts for FY2017-18\",\"datePublished\":\"2018-01-14T04:01:51+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/01\/14\/govt-revises-economic-growth-forecasts-for-fy2017-18\/\"},\"wordCount\":245,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/01\/14\/govt-revises-economic-growth-forecasts-for-fy2017-18\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2018\/01\/14\/govt-revises-economic-growth-forecasts-for-fy2017-18\/\",\"name\":\"Gov\u2019t revises economic growth forecasts for FY2017-18 - 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GDP grew to 5.4% in the third\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":597942,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/09\/egypts-gdp-growth-accelerated-to-5-6-in-3q2018-19\/","url_meta":{"origin":634349,"position":1},"title":"Egypt\u2019s GDP growth accelerated to 5.6% in 3Q2018-19","author":"enterpriseam admin","date":"9 May 2019","format":false,"excerpt":"Egypt\u2019s GDP growth accelerated to 5.6% in 3Q2018-19, up from 5.5% in 2Q2018-19 and 5.4% in 3Q2017-18, Planning Minister Hala El Said said in a statement yesterday. GDP growth in the first half of the 2018-19 fiscal year reached 5.4%, she added. The government anticipates a GDP growth rate of\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\/12\/58.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":594914,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/11\/egypts-tax-revenues-expected-to-account-for-14-of-gdp-investments-to-spur-gdp-growth-in-fy2019-2020\/","url_meta":{"origin":634349,"position":2},"title":"Egypt\u2019s tax revenues expected to account for 14% of GDP, investments to spur GDP growth in FY2019-2020","author":"enterpriseam admin","date":"11 September 2019","format":false,"excerpt":"FinMin sees tax revenues accounting for 14% of GDP, investments contributing bigger portion of GDP growth in FY2019-2020: The Finance Ministry expects Egypt\u2019s tax revenues in FY2019-2020 to comprise 14% of the country\u2019s GDP, with that figure projected to rise to 14.3% and 14.5% in the next two fiscal years,\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\/2019\/9\/190.png?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":567296,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/19\/egypt-expected-to-have-highest-gdp-growth-in-north-africa-debt-sustainability-remains-a-concern-un\/","url_meta":{"origin":634349,"position":3},"title":"Egypt expected to have highest GDP growth in North Africa, debt sustainability remains a concern -UN","author":"enterpriseam admin","date":"19 January 2020","format":false,"excerpt":"Egypt\u2019s GDP growth forecast among the highest in North Africa, debt sustainability remains a concern -UN: Egypt\u2019s GDP is expected to grow at a 5.8% clip in 2020 and 5.3% in 2021, one of the highest in North Africa, according to the United Nations\u2019 2020 World Economic Situation and Prospects\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\/634.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":628673,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/10\/ebrd-ups-forecast-for-egypt-economic-growth-in-fy2017-18-by-0-8-bps-5-3\/","url_meta":{"origin":634349,"position":4},"title":"EBRD ups forecast for Egypt economic growth in FY2017-18 by 0.8 bps 5.3%","author":"enterpriseam admin","date":"10 May 2018","format":false,"excerpt":"EBRD ups forecast for Egypt economic growth in FY2017-18 by to 5.3%: The European Bank for Reconstruction and Development (EBRD) expects Egypt\u2019s economy to grow by 5.3% in FY2017-18, up 0.8 bps from a previous estimate of 4.5%. Economic growth is expected to accelerate further in FY2018-19 to 5.5%, \u201csupported\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":597714,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/02\/govt-revises-downwards-fy2018-19-growth-forecast-to-5-6\/","url_meta":{"origin":634349,"position":5},"title":"Gov\u2019t revises downwards FY2018-19 growth forecast to 5.6%","author":"enterpriseam admin","date":"2 May 2019","format":false,"excerpt":"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\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\/10\/276.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\/634349","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=634349"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/634349\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/634343"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=634349"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=634349"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=634349"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=634349"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=634349"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}