Egypt’s 2019 GDP growth projected at 5.5% – AMF report

Big 5

Egypt’s economy is projected to grow 5 percent in 2018 and around 5.5 percent in 2019, the Arab Monetary Fund’s Arab Economic Outlook report showed on Monday.

The ongoing reform programme has made the fund raise its outlook for Egypt’s economy, according to the report.

Such reforms have resulted in witnessing for the first time a primary budget surplus of around 0.2 percent for the financial year 2017/2018, before calculating interest on debts, the report added.

The Arab Monetary Fund (AMF) is a regional Arab organisation, a working sub-organisation of the Arab League. It was founded 1976, and has been operational since 1977. It consists of 22 member nations.