Cairo – Mubasher: Egypt is one of few economies expected to witness a positive growth during the coronavirus (COVID-19) pandemic, Fitch Solutions analysts said, as cited by the Middle East News Agency (MENA).
The most populous Arab nation’s economy is forecast to return to pre-COVID levels in 2021, according to the analysts.
During a webinar on Monday, analysts expected Egypt’s economy to record a 5% growth rate in fiscal year (FY) 2021/2022.
The recovery of the tourism sector, the expansion in natural gas production, and Suez Canal revenues, as well as the monetary easing policies of the Central Bank of Egypt (CBE) are expected to drive the country’s economic growth, the MENA country risk analyst, Selim El-Badri, said.
During the pandemic crisis, the CBE slashed key interest rates by 350 basis points (bps).
