Cairo - Mubasher: The European Bank for Reconstruction and Development (EBRD) expects Egypt economy to grow by 4.5% in the fiscal year 2017/2018, from 4.1% in 2016/2017.
According to the Regional Economic Outlook report issued by the International Monetary Fund (IMF), southern and eastern Mediterranean countries are expected to achieve an overall growth of 3.8% and 4% in 2017 and 2018, respectively, led by the reforms implemented by these countries.
This is also supported by the continuous recovery of tourism and increase in exports increase in both Egypt and Jordan.
In October, the IMF forecast an increase in Egypt’s growth to 4.5% in the FY 2017/2018, led by the country’s economic reform programme.
In September, Egyptian minister of finance Amr El-Garhy expected that the Egyptian economy will grow by between 5% and 5.25% during the current fiscal year.
Hala El Said, minister of planning, follow-up and administrative reform, said that Egypt’s growth reached 5% in the last quarter of FY 2016/2017.
Egypt is currently implementing the economic reform programme in accordance with the IMF, which included liberalisation of the exchange rate and gradual decrease of subsidies.
