The Clap
Egypt’s economy grew by 6.6% during the 2021/2022 fiscal year, an increase from 3.3% the previous year, according to Dr. Hala El-Said, Minister of Planning and Economic Development.
The Deets
El-Said indicated an improvement in all economic activities, with the hotel industry growing by 45.5%, the telecom industry growing by 16.3%, and the Suez Canal’s revenues growing by 11.7%.
Why this Matters
In July 2022, the IMF expected Egypt’s economy to grow by 5.9% YoY and expected the global economy to grow by 3.2%.
Egypt’s economy grew by 7.8% during the first 9 months of the 2021/2022 fiscal year.
Egypt’s economy grows in 2022 📈
