Significant figures of Egypt’s economy in IMF’s report
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Egypt Today reviews the most significant figures in the IMF’s report, which are:
– The expected growth rate for Egypt’s economy during fiscal year 2019/2020 is 5.9 percent, compared to 5.5 percent during current fiscal year 2018/2019.
– Foreign direct investment (FDI) inflows to Egypt are expected to hit $11.2 billion in 2019/2020, compared to $9.5 billion during 2018/2019.
– Inflation rate to drop to 10.7 percent by the end of next fiscal year, compared to the expected 14.5 percent by the end of the current fiscal year.
– IMF also expected Egypt’s gross domestic product (GDP) to hit LE 6.458 trillion in 2019/2020, compared to LE 5.414 trillion during the current fiscal year.
– Foreign reserves are expected to rise to $45.5 billion in 2019/2020, compared to $44.9 billion in 2018/2019.
– The average unemployment rate is anticipated to decline to 8.3 percent in the coming fiscal year, compared to the expected 9.6 percent in 2018/2019.
– The report also forecasted Egypt’s population to rise to 101.5 million during 2019/2020, compared to 99.2 million in 2018/2019.
Egypt’s fiscal year starts in July 1, and ends in June 30 of the next year.
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