Economic measures recently taken by the government have contributed to meeting internal challenges and mitigate the repercussions of the surrounding regional and global crises, said the media center at the Cabinet on Tuesday14/5/2024.
The state has been pursuing financial policies that would enhance the economic plans by diverse economic programs, while striving seriously to improve the investment climate to provide foreign exchange and support vital sectors, the media center added in a report.
This came in a report published by the Cabinet Media Center that included infographics highlighting the positive expectations for the Egyptian economy from international institutions in FY 2024/2025.
The report revealed the International Monetary Fund (IMF)’s expectations for the most prominent economic indicators, as it expected an improvement in the economic growth rate to reach 4.4 percent in 2024/2025, compared to 3 percent in 2023/2024, and 3.8 percent in 2022/2023.
The IMF expected urban inflation rate in the republic decreasing to 25.7 percent in 2024/2025, after rising to 32.5 percent in 2023/2024, compared to 24.4 percent in 2022/2023.
As for public debt as a percentage of GDP, the IMF expected it to decline to 82.6 percent in 2024/2025, after reaching 96.4 percent in 2023/2024, compared to 95.8 percent in 2022/2023.
As for Suez Canal revenues, according to the report, the IMF expects revenues reaching US$10 bln in 2024/2025, after declining to US$6.8 bln in 2023/2024, compared to US$9.4 bln in 2022/2023.
Merchandise exports will rise to 7.2 percent in 2024/2025, after declining to 16.3 percent in 2023/2024 and 9.8 percent in 2022/2023.
The report also referred to the World Bank’s expectations for the most prominent economic indicators, as it expected the economic growth rate to reach 4.2 percent in 2024/2025, after declining to 2.8 percent in 2023/2024, compared to 3.8 percent in 2022/2023.
