URGENT: Egypt’s real GDP grows 2.4% in FY ’24

Minister of Planning, Rania Al-Mashat announced on Thursday that Egypt’s real Gross Domestic Product (GDP) grew by 2.4 per cent during the fiscal year 2023/2024.

The slowdown is due to the government’s contractionary policy adopted to restore macroeconomic stability and to the ongoing geopolitical tensions in the region.

“Macroeconomic stability is a necessary condition,” she told a press conference on Thursday.