Egypt's Economy Grows 7.8% during 1st 9 Months of FY2021/22- Minister

Hala El-Saed, Minister of Planning and Economic Development reviewed during today's cabinet meeting , headed by PM Mostafa Madbouly, the performance indicators of the Egyptian economy during the third quarter and the first nine months of the current fiscal year 2021/22.

El-Saed confirmed, in a statement on Wednesday, that the Egyptian economy achieved high growth during the first 9 months of the current fiscal year (July 2021 - March 2022), recording 7.8%, compared to 1.9%, year-on-year.

The rate reached Growth during Q3 of the current fiscal year (January - March 2022) reached 5.4%

The Minister began the presentation with a glimpse into the developments of the global economy, explaining that the Russian-Ukrainian crisis led to the International Monetary Fund (IMF) revising its previous estimates of the global economic growth rate for the years 2022 and 2023, including a decline in growth rates in Latin America and the Caribbean, the United States, and the Eurozone, Middle East and Central Asia, Emerging and Developing Asia, and Sub-Saharan Africa.