Egypt’s FY2018/19 GDP growth projected at 5.5% – EBRD report

Egypt’s economy is projected to grow 5.5 percent in the financial year 2018/2019, the European Bank for Reconstruction and Development’s Regional Economic Prospects report showed on Thursday.

The report also said Egypt’s economic growth is expected to be supported by a continued boost in confidence, a recovery in tourism, an increase in foreign direct investment, and improved competitiveness.

“Oher positive factors are expected to include a strengthening of exports, the start of natural gas production from the Zohr field, the implementation of business environment reforms and prudent macroeconomic policies.” EBRD’s report added.