The Ministry of Planning and Economic Development issues a report on the expectations of international institutions for the Egyptian economy this year

The Ministry of Planning and Economic Development issued a report on the expectations of international research institutions for the performance of the Egyptian economy during the current year.


Dr. Hala El-Said, Minister of Planning and Economic Development, stated that the Egyptian economy is taking a positive path and is heading towards recovery in light of the Covid-19 pandemic, and with the changes the world is witnessing as a result of the economic and structural reforms taken by the Egyptian government.



 El-Said explained that the recovery movement that the economy is currently witnessing is praised by all international institutions, which prompted the institutions to raise their expectations for the rate of economic growth.


The report of the Ministry of Planning and Economic Development indicated that Fox Economics monitored the expectations of 30 research institutions for the Egyptian economy, so that growth expectations came between 4.2% and 6%, as Goldman Sachs was the most optimistic about the growth of the economy, while the institutions suggested the average price growth between 4.9% and 8.7%.


 The report indicated that the National Bank of Kuwait is the most optimistic about controlling inflation, and these expectations are reinforced by the fact that both the International Monetary Fund and the World Bank revised their expectations for the growth of the Egyptian economy during the current year.
 According to the report, the institution indicated that the Egyptian economy regained its momentum in the first quarter of the current fiscal year, with conditions improving at a faster pace, according to the preliminary data available for the period from July to September 2021.


The report added that Fox Economics analysts expect the Egyptian economy to grow by 5.2% during the current fiscal year, an increase of 0.1% from last month's expectations, and 5.2% for the next fiscal year as well.


According to the report of the Ministry of Planning and Economic Development, Moody's credit rating agency believes that the Egyptian economy is still capable of cohesion and flexible handling with the tightening of monetary policy of the US Federal Bank.

According to the report, Moody's maintained a stable outlook for the banking sector in Egypt at (B2 stable), as continued investments in infrastructure and strong spending support economic growth, and initiatives to deepen financial inclusion provide great business opportunities for banks.



Moody's forecast real growth of the Egyptian economy at 5.5% for the fiscal year 2021/2022, driven by strong spending and the continued flow of investments in infrastructure.