Fitch Solutions: Egypt's Economy Witnesses Positive Growth despite Coronavirus

On Monday, Fitch Solutions expected that the Egyptian economy will become one of the few economies in the world that witnesses positive growth during the period of the COVIS-19 pandemic.

It confirmed that the Egyptian economy is recovering and growth will return to its levels before the COVID-19 pandemic.

The countries risk research pision of the global agency predicted, during the seminar that was held remotely and during which the macroeconomic data update for the Middle East and North Africa was reviewed, Egypt's real GDP growth will recover to 5% in the fiscal year 2021/2022, topping the list of countries that have recovered to pre-pandemic levels in the MENA region.

Salim Al-Badari, an analyst in the Country Risk Research Department at Fitch Solutions, said that the Egyptian economy still maintains positive GDP growth despite the repercussions of the pandemic, by supporting positive government spending growth during the pandemic period.