Monday, March 04, 2024
name of Prensa Latina
Bandera inglesa
English Edition
name of Prensa Latina



Fitch estimates Egypt’s solid economic growth in 2022

Egipto, economía, Ficth, 2022
Cairo, Apr 5 (Prensa Latina) Egypt's Gross Domestic Product (GDP) will grow 5.5 percent this year, two tenths more than expected two months ago, Fitch rating agency reported on Tuesday.

In its monthly report on the region’s economic outlook, the credit agency warned that, however, the crisis in Ukraine will affect the countries in Northern Africa and the Middle East.

If wheat prices remain high, current account deficits in the area will increase, it stressed.

A few days ago, the European Bank for Reconstruction and Development estimated that the Egypt’s GDP will slow down to 3.1 percent this year due to the Ukraine-Russia conflict, although it will rise to 6.0 percent by 2023.

Last month, the Egyptian Government also lowered its economic growth projections for the next fiscal year to 5.5 percent, two tenths fewer than expected in January due to the crisis in Ukraine.

According to official figures, Egypt, with 103 million people, is the world’s largest wheat importer. It imported 5.5 million tons in 2021, and 80 percent of that figure came from Russia and Ukraine.


name of Prensa Latina

| Text SMS to 8100 with content PL
Receive 4 mesages x 25 cup

© 2016-2021 Prensa Latina
Latin American News Agency

Radio – Publications  – Videos – News by the minute.
All Rigts Reserved.

St. E No 454 , Vedado,  Habana, Cuba.
Phones: (+53) 7 838 3496, (+53) 7 838 3497, (+53) 7 838 3498, (+53) 7 838 3499
Prensa Latina © 2021 .

Web Site developed by IT Division  Prensa Latina.