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Post-COVID recovery requires deeper reforms to limit debt and fiscal deficit.
14.02.21 | Interesting article at Gulf News


Egypt is the only country in the Middle East and North Africa (MENA) that avoided a negative GDP growth in 2020 despite the impact of COVID-19 on the economy, according to latest data from the Institute of International Finance (IIF).




“The economy has weathered the COVID-19 pandemic well, supported by a timely and effective public health response, deployment of a comprehensive set of fiscal and monetary measures, and adequate funding from the International Monetary Fund (IMF), in the form of a Rapid Credit Facility and a Stand-by Arrangement,” said Garbis Iradian, Chief Economist, MENA of the IIF.




The IIF forecasts GDP growth to moderate from 3.6 per cent in 2019-20 to 2.3 per cent in 2020-21, supported by accommodative monetary and fiscal policies, and the progress in reforms prior to the pandemic.