Egypt’s economy growth rate to reach 4.8% in FY2017/18

The growth rate of Egypt’s economy increased from 3.5 percent in the fiscal year 2015-2016 to 4.2 percent in fiscal year 2016-2017, the International Monetary Fund (IMF) announced, expecting it to reach 4.8 percent in the fiscal year 2017-2018 and to reach 6 percent in the medium term future.

The IMF praised Egypt’s commitment to economic reforms and said its economic reform program played a crucial role in stabilizing the economic situation, but warned of possible risks, including a deteriorated security situation.