Morgan Stanley expects Egypt’s gross domestic product (GDP) to grow by around 4.2% in the current fiscal year (FY) of 2023/2024, up from its previous projection for the country of 5%, Asharq Business reported on July 28th, citing a global economic report by the investment bank. On July 19th, Minister of Finance Mohamed Maait announced that Egypt’s GDP hit 4.2% in FY 2022/2023. The state’s revenues saw an annual growth of about 12.5% in FY 2022/2023, as tax revenue climbed by 23.1%. Copyright © 2022 Arab Finance Brokerage Company All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

Source: The North Africa Journal July 30, 2023 11:41 UTC