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Thndr Claps » EGY Claps » Economy 🏙 » Egyptian Economy grows 4.4% in Q1-FY2023

Egyptian Economy grows 4.4% in Q1-FY2023

by Shams Abbas
November 29, 2022

The Clap
According to initial data from the Ministry of Planning & Economic Development, the Egyptian economy grew at a 4.4% rate year-over-year in Q1 of the 2023 fiscal year.

What
This comes slightly lower than forecasts, which initially stood at 5.5% & were then revised to 5.0%.

So what
Minister of Planning Hala El-Said said the growth reflects the solidity of the economy.

Now what
The IMF had revised down Egypt’s economic growth for the 2023 fiscal year from 4.8% to 4.4%.

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