“The economy is expected to lose steam in [fiscal year] FY 2017, as fiscal consolidation measures dampen economic activity, while elevated inflation saps private consumption,” says Focus Economics. Moreover, analysts expect GDP to expand 3.1% in FY 2017, which is up 0.1 percentage points from last month’s forecast. The report expects total investment to grow 6.4% in FY 2017. The government targets a growth of 5.2% in FY 2017 and 4.6% in FY 2018. Focus Economics expects that inflation will record an average of 22.4% in calendar year 2017, which is up 0.1 percentage points from last month’s projection.

Source: Daily News Egypt May 10, 2017 17:37 UTC