Cairo – Mubasher: The Egyptian economy is expected to grow by 3.6% in 2015, backed by public-sector projects and rising investor confidence, Bank of America Merrill Lynch said Thursday.
The country’s economic growth will likely accelerate to 3.8% next year on increasing foreign investments, the bank added.
Meanwhile, the International Monetary Fund (IMF) earlier expected Egypt’s $280 billion economy to grow by 4% this year.
Egypt’s government expects in its state budget for the current year a deficit of around 9.9% of gross domestic product.
In an economic summit held in the resort city of Sharm El Sheikh in March, Egypt received $12.6 billion in aid from GCC states.
