Egypt's economy expands 5.1%
The article clarified that Egypt's economy grew by 5.1% in the fiscal year 2025-2026, surpassing international institutions' forecasts despite regional tensions. The growth is attributed to improved performance in the industrial sectors, Suez Canal, and oil refining, with the Suez Canal recording a 23.3% increase during the year, and oil refining 8.7%. The council also approved a plan to issue international bonds worth up to $3 billion in the upcoming fiscal year, following the government's success in issuing four bonds totaling $4 billion last year.
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