International organisations forecast positive expectations for Egypt’s economy

he International Monetary Fund (IMF) raised its forecast for the growth of the Egyptian economy during the current fiscal year to 5.2%, up from 4.8%.

The IMF, in its world economic outlook report, maintained a 5.5% growth projected for Egypt in the coming fiscal year.

The IMF’s projections are consistent with government targets for the current fiscal year at 5.2%, but are less optimistic about the next fiscal year, for which the government targets 5.8% growth.

The report showed that the average inflation expectations could slightly increase in the current fiscal year to 20.1%, and 13% next year, compared to the 21% and 13.7% respectively stated in the second review forecast published in January.

The IMF also raised its expectations for the current account deficit to 4.4% this year and 3.9% next year, replacing its previous estimates at 4.5% and 4%.