Egypt's economy remains solid despite COVID-19

Egypt's economy remains solid despite the ongoing coronavirus (COVID-19) pandemic thanks to the economic reform programme started in 2016, according to Minister of Planning and Economic Development Hala El-Said.

The minister's comments come on the back of a report issued by her ministry on Thursday that included analysis of developments in some economic and social performance indicators.

The report looked at the third quarter (Q3) for the current fiscal year (FY) 2019/2020, and showed that Egypt has achieved high growth rates at the international level.

The report outlined that the country has presented real economic growth hitting 5% during Q3 of the current FY2019/2020. It added that pre-pandemic real economic growth was anticipated to reach 5.9%.