Economic growth reaches 6.6 percent in FY21/22

Minister of Planning Hala Al-Said announced that Egypt’s economy grew at a rate of 6.6% in the fiscal year 2021/2022 compared to 3.3% in the year before.

The ministers reviewed the economic performance of the country, especially amid the difficult political and economic global developments that started to affect the economic growth in the 2nd quarter of 2022.

Al-Said added that the hospitality sector witnessed a 45.5% growth, telecommunications 16.3% and industries by 9.9%. Suez Canal grew by 11.7% and achieved its highest revenue ever last July.

Inflation is at 15% affected by international events, while unemployment in Egypt at the end of the last fiscal year stood at 7.2%.