Egypt raises GDP growth target for 2024 and 2025: GAFI chair

By Yomna Yasser On Sep 20, 2023

Egypt tourism — The bustling, sprawling metropolis of Cairo on the banks of the River Nile (Photo Credit: Anton Aleksenko)

Egypt’s government has raised gross domestic product growth (GDP) outlook for the current and upcoming financial years, said chairman of the General Authority for Investment (GAFI) on Wednesday.

The government has set a target for economic growth of 4.4 percent for the current financial year, from a previous expectation of 4.1 percent, Hossam Heiba told reporters on the sidelines of Cityscape Egypt.

For the next financial year, Heiba said the country targets an economic growth of 5 percent, up from a previous expectation of 4.7 percent.