World Bank hikes Egypt growth forecast
The World Bank has raised its forecast for Egypt's economic growth to 4.3% for the current fiscal year, up from its previous estimate of 4% in April. It also anticipates growth accelerating to 5.1% in the 2025/2026 fiscal year, supported by declining inflation and increased private consumption and investment. On the regional economic front, the bank highlighted that the ongoing conflicts in the area, particularly the closure of the Strait of Hormuz, are imposing heavy economic costs. It expects the regional GDP to contract by 2.1% in 2026, after growing by 3.3% in 2025, with negative impacts on Gulf countries as well as on tourism, aviation, and service sectors. The outlook projects an average contraction of 4.3% in the Gulf economies.
Notice: This Is an AI-Generated Summary
Comments (0)