Egyptian economy to grow by 4% in 2022-23 FY- Minister

Egypt’s economy is expected to grow by around four percent or less during the current fiscal year (FY) 2022-2023, said Egyptian Minister of Planning Hala El-Said.

The minister also told CNBC Arabia that seven local and global companies took steps to acquire shares in the National Company for Petroleum. El Said also said that the government expects completion of the rollout procedure to end by November.

An Arabian energy company said last month that it offered a non-binding offer to acquire some of the rolled out shares in the company. The minister also said that four more company will roll out soon.