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Saturday, 19 October 2019

Fitch Solutions: Egypt's growth to tick up on investment, consumption

MENA , Friday 3 May 2019
Views: 1599
Views: 1599

Fitch Solutions has said it estimates Egypt's GDP will reach 5.4 percent in the 2019/2020 fiscal year, compared to 5.3 percent in the previous year, according to a Friday press release.

Fitch Solutions, an affiliate of Fitch Ratings, added that investment in Egypt "will remain a strong driver of headline growth, primarily as a result of rising government spending on infrastructure and rapid development of the country’s hydrocarbon sector."

"Growth will also increasingly be underpinned by private consumption as households’ purchasing power gradually improves," it said.

Egypt’s fiscal year starts on 1 June.

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