Egypt’s economy is finally heading in the right direction or at least that is the impression given by key international lenders, the IMF and World Bank. Both have given Egypt their vote of confidence this month, with growth forecasts revised up in light of steady reform implementation.
“The forecast for growth in Egypt in FY 2024/25 [July-June] has risen by 0.7 pps since April, to 4.5 percent—substantially higher than the 2.4 percent growth rate in FY 2023/24,” the World Bank says in its most recent MENAAP (Middle East North Africa, Afghanistan, Pakistan) economic update in October. (CONTINUED - 1639 WORDS)
