World Bank Forecasts for Egypt’s Economy in FY2024/25

Updated 4/21/2024 1:56:00 PM
World Bank Forecasts for Egypt’s Economy in FY2024/25

The World Bank's projections for Egypt's economy in fiscal year 2024/25 foresee a 4.2% growth in real gross domestic product (GDP).

However, inflation is expected to remain high at 24.9%, and the country is forecasted to have a current account deficit of 3.3% of GDP.

Egypt's debt is anticipated to reach 91.3% of GDP.

These figures highlight both positive growth prospects and ongoing challenges in managing inflation and external balances.

The World Bank will provide a financing package of $6 billion to Egypt over the upcoming three years.

The package includes an amount of $3 billion to support the Egyptian government’s economic reform program and $3 billion to empower the private sector.

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