Egypt’s economy might grow 4.2% in FY 2023/24 – Morgan Stanley

Egypt’s economy and gross domestic product (GDP) to grow 4.2 percent in the current fiscal year (FY) of 2023/2024, according to Morgan Stanley on Friday.

The investment bank is predicting the GDP to go up from its previous projection for the country of five percent.

The Egyptian Minister of Finance Mohamed Maait announced earlier this month that Egypt’s GDP hit 4.2 percent in FY 2022/2023.

Egypt’s revenues saw an annual growth as well of around 12.5 percent in FY 2022/2023, while tax revenue inched up by 23.1 percent.