
A general view of the Nile river in Cairo, Egypt. (AP)
The latest growth reading shows a slowdown compared to 2.9 percent in the fourth quarter of FY2022/2023 (April-June).
Egypt’s GDP grew by 3.9 percent in the third and second quarters of FY2022/2023.
The fiscal year in Egypt starts on 1 July and ends on 30 June the next year.

The World Bank downgraded its forecasts for Egypt’s real GDP growth for 2024 to 3.5 percent from 3.7 percent in a previous estimate.
In December, the Egyptian government revised down to 3.5 percent its forecast for the country’s real GDP growth during the current fiscal year from 4.2 percent a month earlier.
The decline was mainly due to the consecutive external shocks and disturbances that hit the country’s economy, including the geopolitical tensions in the Middle East and the repercussions of the war in Ukraine.
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