In July, Egypt’s FY2021/2022 budget will be rolled out with a total value of EGP 2.6 trillion, the biggest in Egypt’s history, increasing from a value of EGP 2.2 trillion for the current FY2020/2021 budget that ends in June.
The FY2021/22 budget was drafted amid expectations that Egypt would restore its pre-pandemic growth and macroeconomic performance levels after the notable slowdown the country’s economy is witnessing during the current FY2020/21.
Hereunder the key highlights of Egypt’s biggest FY2021/22 budget and its main targets.
Q: What is the expected real GDP growth in the FY2021/22 draft budget?
A: FY2021/22 is expected to witness an increase in real GDP growth to reach 5.4 percent, after experiencing a slowdown in FY2020/21 estimated at 2.8 percent, in light of the incremental recovery of Egypt’s economy recovery from the COVID-19 pandemic and its associated harsh impacts.