Morgan Stanley Anticipates 4.2% GDP Growth for Egypt in Fiscal Year 2023/24

 According to recent projections by leading investment bank, Morgan Stanley, Egypt's Gross Domestic Product (GDP) is poised to witness a 4.2% surge in growth during the ongoing fiscal year of 2023/24. This figure marks an upwards adjustment from the institution's prior prediction of a five percent growth rate.

This update arrives on the heels of the Egyptian Finance Minister, Mohamed Maait's declaration earlier this month, that the country had achieved a GDP growth rate of 4.2% in the 2022/23 fiscal year. The country's revenues mirrored this positive trend, charting an annual growth rate of roughly 12.5% in the fiscal year 2022/23. Tax revenues, in particular, saw a significant upswing, climbing by 23.1%.

The outlook for Egypt's economy appears encouraging, highlighting the nation's robustness and potential for sustained growth. These robust economic indicators should buoy investor sentiment and stimulate further growth across Egypt's diverse sectors.