Arab Finance: The International Monetary Fund (IMF) and the World Bank (WB) have revealed their expectations for the Egyptian economic growth for the current financial year (FY) 2022/23 and the upcoming one. 

The IMF forecasted that Egypt’s real gross domestic product (GDP) for the current FY 2022/23 would hit 3.7%, before growing to 5% during the next FY, which will kick off on July 1st, 2023. 

The IMF also expected Egypt’s inflation to reach 21.6% in FY 2022/23 before dropping to 18% next FY. 

Egyptian current account balance would hit a deficit of 2.8% of GDP in during the current FY and 3.1% of GDP in the upcoming FY, according to the IMF’s latest World Economic Outlook (WEO) report. 

 
For its part, the WB projects Egypt’s GDP to hit 4% in both FY 2023/24 and 2024/25. 

Egyptian inflation is expected to reach 18.9% during the current FY, before dropping to 15% during the next FY, according to the WB. 

Egyptian current account deficit is expected to reach 3.4% during the current FY and is forecasted to drop to 3% during the upcoming FY.