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Egypt's economy is expected to see growth in the coming years, according to Planning Minister Hala al-Saeed. The minister predicted a 2.9% to 3% growth for the current financial year, with an acceleration to 4.2% in 2024/25. This growth is anticipated to come from investment spending, net exports and imports, and consumer spending. The Finance Minister Mohamed Maait also echoed similar sentiments during IMF talks in Washington. The recent real estate deal with the United Arab Emirates and agreements with the IMF have helped alleviate the chronic lack of foreign currency that had been dragging down the economy. However, the central bank reported a slowdown in growth in the fourth quarter of 2023, with indicators suggesting continued subdued growth in the coming months.
