CAIRO – 26 January 2021: Egypt’s growth domestic product (GDP) is expected to rise to 5.4 percent in 2021, according to the World Economic Situation and Prospects 2021 report issued by the United Nations (UN). The report attributed the high growth is supported by the strong recovery of domestic demand and facilitated by the absence of severe balance-of-payments constraints. “In terms of fiscal years, GDP growth is estimated at 3.5 percent for FY 2020, and for FY 2021, the forecast is 2.1 percent,” it stated. The modest recovery of 4.7 percent expected in 2021 would barely offset the losses of 2020, says the latest World Economic Situation and Prospects. Developing countries saw a less severe contraction at 2.5 per cent, with an expected rebound of 5.7 percent in 2021, according to the estimates presented in the report.

Source: Egypt Today January 26, 2021 12:56 UTC