IMF trims Egypt’s GDP growth forecast for FY 2023/24 to 4.1%

The International Monetary Fund (IMF) has trimmed on Tuesday its forecast for Egypt’s real GDP growth to 4.1 percent for the current financial year (FY) 2023/2024.

According to IMF’s World Economic Outlook (WEO), the forecast went down from its previous projection of 5 percent.

The IMF kept its projection for Egyptian economic growth at 3.7 percent for the past FY 2022/23.

The Washington-headquartered fund has now estimated its outlook for the global economic growth at 3 percent for FY 2023/24.

“In most economies, the priority remains achieving sustained disinflation while ensuring financial stability,” the IMF said.

“Therefore, central banks should remain focused on restoring price stability and strengthening financial supervision and risk monitoring,” it added.