Egypt's real GDP rises to 4.77% in Q3 FY2024/25
This GDP marks the highest quarterly rate in three years, higher than 2.2% in the same quarter last FY.
The average growth reached 4.2% in the first nine months of FY 2024/2025, compared to 2.4% during the same period in FY 2023/2024.
Minister of Planning, Economic Development, and International Cooperation Rania Al-Mashat stated the higher-than-expected GDP growth was backed by strong performance in key sectors, mainly non-oil manufacturing, tourism, and telecommunications.
This growth reflects the tangible impact of Egypt's macroeconomic policies and structural reform agenda, Al-Mashat noted.
The strong performance shows a sustained recovery and growing resilience of the economy amid global uncertainties.
It also comes due to the continued structural reforms implemented under the National Structural Reform Program to maintain macroeconomic stability, enhance the governance of public investment, and expand private sector participation.
Meanwhile, preliminary data suggest that Egypt's real GDP growth in FY 2024/25 will exceed the initial target of 4%.
This is supported by a rebound in private investments, an improvement in non-oil manufacturing activity, and strong GDP performance over the first nine months of the FY.
© 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
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