Minister of Planning and Economic Development Hala El-Said expects an increase of EGP 819 billion in the nominal gross domestic product (GDP) up 11.5%, bringing the GDP to EGP 7.9 trillion by the end of the year.
What is the Nominal GDP?🤔 Nominal GDP is the total value of all goods & services that a country produces within its borders during a set period of time, without adjusting for inflation or deflation.
More Details🧐 El Said also mentioned that the tourism & information technology sectors contributed heavily to the country’s economic growth of 9% during H1-FY 2021/2022.
The agricultural sector growth rate exceeded 5% for the first time in H1-FY 2021/2022.
El-Said also ruled out the possibility that the inflation rate would exceed the CBE’s 5-9% target, indicating that the current global inflation wave is a result of supply chain disruptions.
