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The Worldwide Financial Fund (IMF) lowered its progress expectations for the Egyptian financial system in 2024, whereas sustaining its expectations for international financial progress charges.
The worldwide financial outlook The report revealed on Tuesday stated expectations for the Egyptian financial system’s progress within the present fiscal 12 months had been diminished to 3 p.c, in comparison with expectations of three.6 p.c within the report issued in October.
The IMF additionally lowered progress expectations for 2025 to 4.7 p.c, in comparison with 5 p.c beforehand.
That is the third time the IMF has lowered its progress forecasts for Egypt’s financial system, which is beneath immense stress within the face of a suffocating forex disaster.
Globally, expectations indicated that the worldwide progress price would stay at 3.1 p.c in 2024 and rise to three.2 p.c in 2025.
The report additionally reduce progress expectations within the Center East and Central Asia to 2.9 p.c in 2024, down 0.5 p.c from October, and to 4.2 p.c in 2025, down from 0, in accordance with estimates. .3 p.c in comparison with October. estimated at two p.c in 2023.
The IMF lowers progress expectations for the Egyptian financial system for the third time
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