Arab Finance: The Egyptian government has downgraded its economic growth forecast for the fiscal year (FY) of 2023/2024 by 0.7% to 3.5%, Minister of Planning and Economic Development Hala Elsaid revealed in an interview with CNBC Arabia.
This forecast may increase or decrease a little based on the impact of the Gaza-Israel war, Elsaid noted.
Earlier this year, the minister announced that Egypt is targeting achieving economic growth of around 4.1% to 4.2% this year.