Egyptian economy to grow to EGP 105,5 bln in 5 years, UAB Secretary General

The volume of the Egyptian economy will keep its growth over the next five months, thus by the end of 2025 it will reach 105,56 billion Egyptian pounds, Union of Arab Banks (UAB) Secretary General Wissam Fattouh said.

He added that Egypt is the only country in the region which economy will expand during the current week, referring the its GDP will reach 58,20 billion pounds.

The Egyptian banking sector is the first among the Arab banking sectors of non-oil countries (fourth in the Arab world), with total assets of $ 412 billion, with a growth rate of 11 percent, deposits reaching $ 3.3 billion, and loans portfolio of $ 141 billion, he noted during the Banking Industry and Future of Financial Services Forum

The Banking Industry and Future of Financial Services Forum started its activities on Friday Sharm El Sheikh, held under the auspices of the Central Bank of Egypt (CBE), the three-day event is organized by the Union of Arab Banks (UAB).

As many as 250 Arab and foreign banking and financial figures are set to attend the forum, which will discuss global developments in the banking industry, and shed light on the opportunities and challenges facing this industry, UAB Secretary General Wissam Fattouh said.