28 May 2024 08:00 AM

WB: Egypt continues achieving good growth rates

Saturday، 15 January 2022 - 05:02 PM

The Cabinet's media center asserted the State has been boosting its economic success in light of economic and structural reform policies in a way that contributed to maintaining economic and financial stability, despite extraordinary circumstances the world is facing following Covid-19 pandemic.

The center added the State focused on moving forward the wheel of investment and production and setting the stage for business-doing in the country and maximizing the participation of the private sector.

The State is also working for developing the basic structure nationwide and upgrading different development sectors, which will positively affect growth rates in Egypt as per reports of international economic institutions and ratings agencies.

In a report published Saturday 15/01/2022, the center highlighted the World Bank (WB)'s praise of the Egyptian economy performance during coronavirus crisis.

The WB expected that the Egyptian economy will maintain achieving good growth rates in the future, the report mentioned.

As well, the Bank expected Egypt to be among top growth rate economies in 2022, said the report.

It forecast Egypt to become the second highest growth rate in MENA region with 5.5 percent during 2021/2022, according to it.

The Bank is also expecting the Egyptian economy will show a strong and stable performance, in spite of slow growth rates worldwide.

MENA


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