Home NewsEgypt News Egypt’s economy records 4.4% growth during Q1 –minister

Egypt’s economy records 4.4% growth during Q1 –minister

by Nada Ali
Egypt’s economy Egypt

Egypt achieved high economic growth recording 4.4 percent during the first quarter of the current fiscal year, said the Planning and Development Minister Hala al-Saeed on Monday.

el Saeed added the growth of the global economy slowed from 6 percent in 2021 to 3.2 percent during the current year, with expectations of a continued decline in growth rates to reach 2.7 percent during the next year.

She also reviewed the development of economic indicators worldwide in light of the repercussions of the Russian-Ukrainian crisis, according to the Cabinet‘s statement.

The global trade activity is expected to decline during the next two years, as the current year witnessed a sharp fall in global trade growth rates to 4.3 percent, with a further slowdown expected to 2.5 percent during by 2023, el Saeed noted.

The remarks came in a separate meeting with the Prime Minister Moustafa Madbouly, to review the important preliminary economic indicators for the Egyptian economy during the first quarter of the current fiscal year.

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