Egypt's economy grows 5% in Q3
Egypt’s economic growth rate recorded 5% in Quarter three (Q3) of fiscal year 2019/2020, down from the expected 5.9%, according to a June 4threport.
COVID-19 caused a slowdown in various economic activities including tourism, manufacturing, and whole and retail trade, the Ministry of Planning and Economic Development's report highlighted.
Egypt's economic growth rate was one of the highest in the world during the three-month period thanks to the diversity of the economy’s structure, the ministry highlighted.
The implemented public investments rose 23% to reach EGP 113 billion during the period from July 2019 to March 2020.