World Bank growth prediction for Egypt in 2012/13 is significantly lower than 3.5 to 4 per cent estimate by government The World Bank has predicted Egypt's economy will grow by 2.6 per cent in the fiscal year 2012/13, a significantly lower figure than estimated by the Egyptian government. The Egyptian economy grew by 2.2 per cent in the preceding 2011/12 fiscal year. In its latest Global Economic Prospects report published on Wednesday, the bank said political uncertainty and unrest in several countries in the region, including Egypt, was weighing on economic activity. The Egyptian government has predicted growth of 3.5 to 4 per cent in the current fiscal year ending on 30 June 2013. The World Bank estimated growth in Egypt would quicken to 3.8 per cent in 2013/14 year and 4.7 per cent in 2014/15. The bank's prediction for Egypt has been downgraded since its September report, reflecting continued economic turbulence and a delay in a $4.8 billion loan from the International Monetary Fund. The Egyptian economy crumbled following the popular uprising that unseated Hosni Mubarak early 2011. After the economy grew by an average five per cent in the few years preceding 2011, economic growth dropped to 1.8 per cent in 2010/2011. From Ahramonline
GMT 12:09 2018 Monday ,26 November
Black Friday less wild as more Americans turn to online dealsGMT 15:07 2018 Sunday ,18 November
Refugee host countries discuss UNRWA's financial crisisGMT 17:22 2018 Wednesday ,31 October
Russia climbed to 31st place in Doing Business-2019 ratingGMT 16:53 2018 Wednesday ,17 October
"Putin" We need for collective restoration of Syria's economyGMT 14:02 2018 Friday ,12 October
Govt to announce incentives package for Overseas PakistanisGMT 18:26 2018 Saturday ,06 October
Dubai attracts Dh17.7 billion in foreign direct investmentGMT 09:02 2018 Friday ,21 September
Economy of Georgia demonstrates "strong signs of recovery"GMT 09:03 2018 Wednesday ,24 January
German investor confidence surges in JanuaryMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor