Finance Minister Mohamed Maait
Finance Minister Mohamed Maait

Egypt's Economic Growth Expected to Hit 2.8%-4% in FY2021/22: Minister


Egyptian Finance Minister Mohamed Maait said that the country's economic growth is expected to range between 2.8 percent and 4 percent in the coming 2021/2022 fiscal year, speaking during a phone interview with DMC channel's "Al Youm" program on Friday.

Maait said earlier this month that Egypt's economic growth is projected to hit 3.3 percent during the current fiscal year, a result which would lie within the target range of between 2.8 and 3.5 percent.

Also speaking earlier this month, Deputy Planning Minister Ahmed Kamaly said that the average economic growth in 2020/2021 will be between 3.5 and 3.8 percent, if there is a second wave of the coronavirus.

In October, the World Bank predicted Egypt's economic growth would hit 2.3 percent in the current fiscal year and 5.8 percent in the following 2021/2022 fiscal year, while the International Monetary Fund forecast growth of 2.8 percent in the current fiscal year.