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Egypt’s economy is projected to grow 5.5 percent in the financial year 2018/2019, the European Bank for Reconstruction and Development’s Regional Economic Prospects report showed on Thursday.
The report also said Egypt’s economic growth is expected to be supported by a continued boost in confidence, a recovery in tourism, an increase in foreign direct investment, and improved competitiveness.
“Oher positive factors are expected to include a strengthening of exports, the start of natural gas production from the Zohr field, the implementation of business environment reforms and prudent macroeconomic policies.” EBRD’s report added.
