Egypt’s economy grows 2% in Q2-20/21, minister

By Amwal Al Ghad English On Mar 11, 2021

coronavirus cases Egypt newest — People wear protective face masks amid concerns over the coronavirus disease (COVID-19) walk in front of the closed El Sayeda Zainab Mosque near markets that sell traditional Ramadan lanterns, in Cairo, Egypt, April 12, 2020. (Photo Credit: Mohamed Abd El Ghany / REUTERS)

Egypt’s economy seen a growth by 2 percent in the second quarter (Q2) of fiscal year 2020/2021, the Minister of Planning and Economic Development, Hala El-Saeed, revealed.

For the first half (H1) of FY20/21, the country recorded a gross domestic product (GDP) growth rate of 1.35 percent , compared to 5.6 percent in the year-ago period, El-Saeed added in a statement on Wednesday.

She expects GDP to continue expanding at 2.8 percent and 5.3 percent in the third and fourth quarters, respectively.

Over the July-December period of 2020, many sectors witnessed activity growth such as the transport, storage, agriculture, health, and education sectors, while other sectors shrank due to the economic repercussions of the pandemic such as tourism and manufacturing sectors and Suez Canal.

Egypt Economy