The International Monetary Fund (IMF) has revised its projections for Egypt’s real GDP growth in 2023 and 2024, according to the World Economic Outlook report released in October 2023. The IMF expects Egypt’s economy to grow by 4.2% in 2023, down from 6.7% in 2022. The growth rate is further lowered to 3.6% in 2024. The report also predicts that Egypt’s inflation will rise to 23.5% in 2023 and 32.2% in 2024, compared to 8.5% in 2022. The report also notes that global growth will slow down from 3.5% in 2022 to 3% in 2023 and 2.9% in 2024, with headline inflation declining from 9.2% in 2022 to 5.9% in 2023 and 4.8% in 2024.

Source: Daily News Egypt October 11, 2023 08:26 UTC