What does the World Bank expect for Egypt’s economy in 2022?

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According to a report "Global Economic Prospects" issued by The World BankThe Bank raised its forecast for the growth of the Egyptian economy by 1% to reach 5.5% during the fiscal year 2021/2022, as a result of the improvement in external demand from the main trading partners, the expansion of information and communication technology and gas extraction sectors, and the gradual improvements in tourism.

According to the opinions of experts who spoke to "Sky News Arabia" then The Egyptian economy Able to achieve higher growth rates, based on the economic reform program that Egypt has followed, and the national projects that are currently taking place, increasing the volume of investments; Thus, the growth rates increase.

The Egyptian Prime Minister, Mostafa Madbouly, commented in press statements during the review of the World Bank report, that the indicators and expectations of economic reports issued by international institutions are a realistic mirror for evaluating the steps and policies taken.

Regarding EgyptHe said that what the reports indicated of the positive development in the indicators of the Egyptian economy enhances confidence in the path followed by the state, and pushes it towards continuing to strive to achieve greater results in a way that will positively reflect on the economy and the future of citizens.

Results of national projects

Member of the Planning and Budget Committee in the Egyptian Parliament, Mohamed Badrawi, says that the World Bank raised its expectations regarding growth rates in Egypt to reach 5.5%, which was close to the expectations of the government, which expected to achieve a growth rate of 5.7% during the current year.

Badrawi pointed out that the World Bank relied on Egypt’s growth rate during the first three months of the current fiscal year, which is the rate resulting from national projects and the resulting economic activities.

The professor of finance and investment, Mustafa Badra, agreed with what Mohamed Badrawi said, adding that Egypt is able to achieve a higher growth rate than that, had it not been for the repercussions of the Corona pandemic, which affected the economy in all countries of the world, and created anxiety among many investors; They retreated from injecting new investments.

Looking forward to the continued rise in the growth rate, Badra says that Egypt has prepared itself well to attract investments, with its surpluses in basic resources such as electricity, energy, communications, logistical areas, factory processing and turnkey delivery.

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According to the Global Economic Prospects report issued by The World BankThe Bank raised its forecast for the growth of the Egyptian economy by 1% to reach 5.5% during the fiscal year 2021/2022, as a result of the improvement in external demand from the main trading partners, the expansion of information and communication technology and gas extraction sectors, and the gradual improvements in tourism.

According to the opinions of experts who spoke to “Sky News Arabia”, The Egyptian economy Able to achieve higher growth rates, based on the economic reform program that Egypt has followed, and the national projects that are currently taking place, increasing the volume of investments; Thus, the growth rates increase.

The Egyptian Prime Minister, Mostafa Madbouly, commented in press statements during the review of the World Bank report, that the indicators and expectations of economic reports issued by international institutions are a realistic mirror for evaluating the steps and policies taken.

Regarding EgyptHe said that what the reports indicated of the positive development in the indicators of the Egyptian economy enhances confidence in the path followed by the state, and pushes it towards continuing to strive to achieve greater results in a way that will positively reflect on the economy and the future of citizens.

Results of national projects

Member of the Planning and Budget Committee in the Egyptian Parliament, Mohamed Badrawi, says that the World Bank raised its expectations regarding growth rates in Egypt to reach 5.5%, which was close to the expectations of the government, which expected to achieve a growth rate of 5.7% during the current year.

Badrawi pointed out that the World Bank relied on Egypt’s growth rate during the first three months of the current fiscal year, which is the rate resulting from national projects and the resulting economic activities.

The professor of finance and investment, Mustafa Badra, agreed with what Mohamed Badrawi said, adding that Egypt is able to achieve a higher growth rate than that, had it not been for the repercussions of the Corona pandemic, which affected the economy in all countries of the world, and created anxiety among many investors; They retreated from injecting new investments.

Looking forward to the continued rise in the growth rate, Badra says that Egypt has prepared itself well to attract investments, with its surpluses in basic resources such as electricity, energy, communications, logistical areas, factory processing and turnkey delivery.

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