Live score: Aswan v Zamalek (Egyptian Premier League)    Higuain leaves Juventus, set for Miami switch    Egypt reports 141 new coronavirus cases, 19 deaths on Thursday    Egypt's nominee is out of the race for WTO director-general    EU diplomacy on Turkey runs aground ahead of summit, envoys say    Ethiopia brings some migrants home as concern over Saudi camps grows    Cairo Ring Road to be expanded from 8 lanes to 14: Transport minister    WHO Europe chief urges nations to keep up virus quarantines    Giza Plateau official denies rumours two highways are under construction at archaeological site    Egypt maintain position in first FIFA rankings after coronavirus suspension    Egypt dispatches more humanitarian aid to flood-stricken Sudan    India's daily virus increase surges to record    Egypt's NEA announces results of Senate election run-offs    Kuwaiti NBK to launch Meeza prepaid cards in Egyptian market    Egyptian documentary 'Lift Like a Girl' premieres in Toronto to positive reviews    Climate theories on Sudan    Egypt's candidate reelected to UN's Committee on Economic, Social and Cultural Rights    Egypt's culture minister receives UNESCO registration of the Palm on List of Human Heritage    Egyptian insurance companies' premiums 9.6% up in five months    Egypt's President Sisi names new head of anti-corruption watchdog    Egypt's offers 18 bln pounds T-bills on Sunday    EgyptAir offering discounts for some international flights    Egypt records 212 new coronavirus cases, 14 deaths on Saturday    Egypt to require PCR coronavirus tests for airport travelers    Egypt sends 125 tonnes of glass by sea to Beirut    Legend Messi officially wants to leave Barcelona, hands transfer request    Global smartphone sales drop 20% in Q2, yet Apple's iPhone sales steady    Sisi: Egypt keen on establishing development projects with Iraq, Jordan    Egyptian megastar Amr Diab releases new hit music video    Making of Harry Potter will be available for fans at new park in Tokyo    Egypt's Senate elections official results to be announced Wednesday    Netflix Egypt is bringing megastar Amr Diab back with a new original    Egypt reopens Rafah border crossing for first time since April    Egypt's senate elections 2020 trending on social media in few days    African Champions League final will be played on Oct. 16-17, CAF says    No room to delay Egyptian Premier League games – EFA's board member    The Facebook Preacher's Search for Fame, and Egypt's Economy    Egypt calls on UNSC to address oil spill risks off Yemen coast    Egypt economically strong in face of COVID-19, reforms ongoing: International Cooperation Minister    Arafa Holding reports $144,000 COVID-19-related losses in April    Egypt's efforts in Libya to activate free will of Libyan people: Al-Sisi    Hyksos campaigns were internal takeover, not foreign invaders: study    COVID-19 affects Egypt sporting clubs    COVID-19 will soon turn to seasonal like swine flu: Presidential Health Advisor    ‘Egypt's Support' coalition convenes to discuss its Senate election list    Robbery attempt leads to discovery of Ptolemaic monuments in Qena    Flouting international guidance, Ethiopia unilaterally starts filling its Nile dam    Zaha speaks out after online racial abuse    

Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.

IMF expects for Egypt economy to grow 5.2 % in FY 2018
Published in Amwal Al Ghad on 02 - 05 - 2018

International Monetary Fund projected that growth will rise to 5.2 percent in Financial year 2018 (from 4.2 percent last year) and accelerate further to 5.5 percent in FY 2019.
In its report on the Middle East, North Africa, Afghanistan and Pakistan (MENAP) region published Wednesday, the IMF said the outlook for Egypt has improved relative to the October 2017 forecast.
In the context of its IMF-supported program, improving confidence is boosting private consumption and investment, adding to the increase in exports and tourism.
on the other hand, Regional growth in the Middle East, North Africa, Afghanistan and Pakistan (MENAP) is estimated to have reached 4.2 percent in 2017.
It is projected to increase further to 4.7 percent this year and to 5 percent on average during 2019–23, with some countries experiencing appreciably faster growth.
Further strengthening of the outlook for the euro area will continue to support economic activity through exports, remittances, foreign direct investment, and tourism, according to the International Monetary fund (IMF).
Following three years of decline, exports of MENAP oil-importing countries grew by 6.4 percent in 2017 and are projected to accelerate by 8.4 percent in 2018 and 8.6 percent in 2019.
This largely reflects improved external demand, greater exchange rate flexibility (Egypt, Pakistan, Tunisia), gains in competitiveness (Morocco, Tunisia), and a pickup in the prices of phosphates (Morocco, Tunisia), metals (Mauritania), and cotton (Pakistan).
In contrast, despite the impact of higher oil prices relative to 2017, import growth is projected to slow to 4.8 percent in 2018 (from 6.8 percent in 2017) and remain broadly steady around 5.5 percent over the medium term.
This import compression partly reflects an anticipated slowdown in capital imports for infrastructure projects (Djibouti, Mauritania, Pakistan).
The region's current account deficit is, therefore, projected to narrow from 6.5 percent of GDP in 2017 to 6.2 percent in 2018, and further to 5.7 percent in 2019.
To take full advantage of the growing global economy, the region should accelerate key economic reforms. The focus should be on improving the investment climate, boosting productivity, and strengthening governance," said Jihad Azour, Director of the IMF's Middle East and Central Asia Department.
Countries in the region also need to integrate further into the global economy and diversify their products and services. This will require greater access to finance for the private sector (especially small and medium-sized enterprises) and upgrading workforce skills

Clic here to read the story from its source.