Egypt’s GDP grows 7.7% in Q4 2020/21: Cabinet

Egypt’s gross domestic product (GDP) rose 7.7 percent in the March to June quarter from a 1.7 percent contraction in the same quarter last year, the Cabinet announced in a statement on Wednesday, citing Planning Minister Hala al-Saeed.

The initial reading of Egypt’s GDP growth in the financial year 2020-2021 that ended in June was nearly 3.3 percent, the statement read.

The North African country is expecting a growth of 5.4 percent for the current financial year that started in July.