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Top 6 Fitch predictions about Egypt economy

The American credit rating agency stated that the Egyptian economy is among a few to managed to achieve an annual growth despite the COVID-19 pandemic
Egypt Business Directory | 15.08.2021
© Egypt Business Directory
 

Fitch Solutions released its MENA region monthly outlook report, reported by Al-Ahram. The American credit rating agency stated that the Egyptian economy is among a few to managed to achieve an annual growth despite the COVID-19 pandemic.

The below are the top 6 report forecasts about Egypt.

  1. Egypt’s real GDP is expected to reach 3.1% in 2021 (annual prediction) and 5% in the whole fiscal year of 2021/2022 that started 1 July.
  2. The Real GDP is expected to jump to 5.5% in the next fiscal year 2022/2023.
  3. Interest rates are expected to reach an average on 9.25%.
  4. US dollar is expected to trade at EGP 16.20
  5. Average inflation rates are predicted to stand at 5.1% in 2021.
  6. Both public and private sector to fund large projects, as the 2021/2022 budget already assigned a 60% increase to capital expenditures.
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