Planning Min. Expects GDP to Grow to EGP 6.9 trillion by End of 2O22

The Ministry of Planning and Economic Development expects the Gross Domestic Product (GDP) to rise by EGP 582 billion to reach EGP 6.9 trillion by the end of this year.

In a report, the ministry confirmed that the Egyptian economy witnessed an improvement in economic performance with a growth rate of 8.3% during the second quarter of the current fiscal year, compared to a growth rate of 2% during the second quarter of last year.

The report explained that the growth rate during the first half of the current fiscal year reached 9%, adding that the growth rate.

The rate of growth is expected to reach between 6.2% to 6.5% by the end of this year, to be among the highest growth rates that were expected, as it exceeded the expectations of international institutions for growth rates during this year.

The report indicated that all sectors witnessed the positive performance, with the tourism sector recording a growth of 63%, and the communications sector by 16.7%, in addition to the Suez Canal sector achieving 13%, and the industry by 10%, as well as 8.5% for the construction sector, with the health sector, achieving 5.7% growth rate, and education 5.5%.