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Zawya: Egypt’s economy to achieve 5.7% growth in 2019/20

Fitch Solutions said that government investment is likely to remain to the main driver of growth.
28.10.19 | Interesting article at Zawya

Egyptian GDP is expected to grow 5.7% during the fiscal year 2019/2020, according to a report released by Fitch Solutions.

The Central Bank of Egypt’s decision to cut interest rates will boost private sector investments in the coming period, the report added.

Fitch Solutions said that government investment is likely to remain to the main driver of growth.

In August, the Egyptian central bank decided to slash interest rates by 150 basis points.

The Overnight deposit rate and the overnight lending rate were lowered to 14.25% and 15.25%, respectively, while the rate of the main operation was reduced to 14.75%.