CAIRO, Oct. 12 (MENA) – According to the Cabinet media centre, the Egyptian state launched multilateral strategies in parallel to address these challenges and maintain the stability of the economic situation, despite mounting pressures on the global economy and an anticipated slowdown in growth.
This came in a report – issued by the center – that included infographics highlighting expectations of the International Monetary Fund (IMF) that the Egyptian economy would continue to achieve high growth rates and improve indices in the coming years.
According to the report, this resulted from the implementation of strategies to secure hard money, promote and encourage local industry, and encourage private sector participation in overall development.
According to the research, the IMF predicted that Egypt would have one of the highest rates of global growth in 2022 (6.6%).
The Egyptian growth rate is expected to exceed the global average growth to record 4. 4 percent in the fiscal year 2022-2023, compared to 2. 7 percent for the global average in 2023.
IMF expects Egypt’s economy to maintain its rapid expansion.
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