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· The Egyptian economy achieved a growth rate of 9.8 percent in the first quarter of 2021/22 fiscal year
· It is the highest quarterly growth rate over the past 20 years compared to the 0.7percent growth rate achieved during the first quarter of 2020/21
· It also expects that annual growth rate to range between 5.5% to 5.7% at the end of 2021/22
The Egyptian economy achieved a growth rate of 9.8 percent in the first quarter of 2021/22 fiscal year. It is the highest quarterly growth rate over the past 20 years compared to the 0.7percent growth rate achieved during the first quarter of 2020/21.
This was revealed by Cabinet’s Information and Decision Support Center recently in an infographic report published by the Information Center under the title of “The Egyptian economy records the highest quarterly growth rate in 20 years”.
The growth figures indicate the performance of the Egyptian economy during the first quarter of 2021/22. It also expects that annual growth rate to range between 5.5% to 5.7% at the end of 2021/22.
The restaurants and hotels sector achieved the highest quarterly growth rate among all business sectors with a 181.8-percent growth rate.
The transformative industries sector also achieved a high quarterly growth rate of 15.2%. It is the highest growth to be achieved by this sector in the past 20 years. Construction sector achieved a growth rate of 10.5% as a result of growing investments of the New Urban Communities Authority.
