Arab Finance: The International Monetary Fund (IMF) has trimmed its forecast for Egypt’s real gross domestic product (GDP) for the current fiscal year (FY) 2023/2024 to 4.1% from its previous projection of 5%, according to the fund’s World Economic Outlook (WEO) report published on July 25th. Moreover, the IMF maintained its projection for Egyptian economic growth at 3.7% for the elapsed FY 2022/23. However, the fund has estimated its outlook for the global economic growth at 3% for both 2023 and 2024. “In most economies, the priority remains achieving sustained disinflation while ensuring financial stability,” the IMF said. “Therefore, central banks should remain focused on restoring price stability and strengthening financial supervision and risk monitoring,” it added.

Source: The North Africa Journal July 26, 2023 14:15 UTC