18 April 2024 03:52 AM

Cabinet: Egyptian economy strong, resilient, flexible before crises

Saturday، 03 September 2022 - 02:40 PM

The Cabinet's media center asserted the Egyptian State - over the past eight years- sought to build a national economy that has flexible and competitive advantages.

Such leverages are mainly contributing to boosting growth rates in the different sectors and improve investment atmosphere through a package of comprehensive reforms and various investment incentives, according to a report, published by the center that includes an infographic about a statement of accounts of the national Egyptian economy in a span of the previous eight years.

The economy has been strong, flexible and resilient while handling crises as several world economies have been facing consecutive crises, said the report.

This has constituted a cornerstone in the economy's resilience in addressing the crises and current global challenges that harmed different economies worldwide, the report added.

The State is exerting tireless efforts to contain negative repercussions of such crises economically and socially, according to it.

The report mentioned the Egyptian economy has achieved the highest growth rate since 14 years, despite repercussions of the Russian-Ukrainian crisis.

The economic growth rate achieved 6.6% in 2021/2022, compared to 2.9% in 2013/2014, exceeding global growth rate that is expected to amount to 3.2%, it pointed out.

It said Gross Domestic Product was up three times to 7.9 trillion Egyptian pounds (initial statement) in 2021/2022 against 2.2 trillion Egyptian pounds in 2013/2014.


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