The Egyptian Government Expects a Growth of 4.2 percent

  • Cairo, Egypt
  • 28 April 2020

The Egyptian government expected to achieve an economic growth rate of 4.2 percent by the end of this year, which will be considered one of the best growth rates in the world.

In this context, the Prime Minister of the Arab Republic of Egypt, Dr. Mostafa Madbouly, pointed out that "the Egyptian economy has managed to withstand thanks to the measures taken by the state during the past four years, which is evident in the availability of goods and the non-shake of the money markets, as some countries suffered from during the previous period," noting that "the government is counting for the future and is taking a precautionary step to avoid any repercussions, so it will begin its discussions with the Fund to discuss the implementation steps during the few days."

He stressed "the necessity to take precautionary and proactive measures to ensure that no impact occurs in the Egyptian economy, and that there is no negative impact on the gains that we were able to achieve and that the citizen is able to feel, such as the stability of prices and markets, and the existence of an abundance of goods and services."

Madbouly affirmed that, "in light of expectations and hopes, it is possible to witness the return and opening of work fields at the beginning of June, we hope that we will be able to speed recovery and compensate for the difficult period that the whole world is going through during the previous period due to the implications of the Coronavirus."

Source (Bahrain News Agency, Edited)

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