Fitch Solutions upgrades Egypt projections again

Fitch Solutions, the leading ratings, insights and analytic company, has updgraded Egypt's GDP growth projection for 2022 for thr 3rd time in the last 3 months.

The previous projection was at 6.17 percent, now it's at 6.23 percent. The report also anticipated that inflation will continue to be at 13.2 percent until the end of the year.

The war in Ukraine and the global economic crisis have caused the inflation rates all over the world to rise, and Egypt is no exception with inflation reaching 15.3% in August, while last year in August it was at 6.4%.