Egypt’s economy growth rates won’t be less than 3.8% during 2020: PM

Egypt’s economy growth rates won’t be less than 3.8 percent as the government has taken all the necessary precautions to shield the economy, according to the Prime Minister Moustafa Madbouli.

All international institutions, including the International Monetary Fund and the World Bank, have announced that the global economy is seeing a recession after Covid 19 pandemic, expecting the global growth rates to reach a negative rate of -5 percent.

Yet these same international institutions expected Egypt to have a positive growth rate despite coronavirus pandemic.

Having a diversified economy is one of the factors that helped the economy to survive during the coronavirus economy, he noted.