• Advertise
  • Privacy & Policy
  • Contact
Friday, July 18, 2025
itida
Egyptian Gazette

Editor-in-Chief

Mohamed Fahmy

Board Chairman

Tarek Lotfy

  • HOME
  • EGYPT
    • Local
    • Features
  • World
    • National Day
  • Technology
  • BUSINESS
    • Real Estate
    • Automotive
  • SPORTS
  • ENTERTAINMENT
    • Arts
    • Health
    • Lifestyle
    • Travel
  • Skyward
    • Flight schedules
    • EgyptAir booking
    • Snippets from EgyptAir history
    • EgyptAir history
    • Your Shipment On Time
    • Discover the World of Shopping
  • MORE
    • Multimedia
      • Video
      • Podcast
      • Gallery
    • OP-ED
No Result
View All Result
  • HOME
  • EGYPT
    • Local
    • Features
  • World
    • National Day
  • Technology
  • BUSINESS
    • Real Estate
    • Automotive
  • SPORTS
  • ENTERTAINMENT
    • Arts
    • Health
    • Lifestyle
    • Travel
  • Skyward
    • Flight schedules
    • EgyptAir booking
    • Snippets from EgyptAir history
    • EgyptAir history
    • Your Shipment On Time
    • Discover the World of Shopping
  • MORE
    • Multimedia
      • Video
      • Podcast
      • Gallery
    • OP-ED
No Result
View All Result
Egyptian Gazette
No Result
View All Result
Home Business

‘Plans to achieve growth rate of 4.2% in FY 2023/2024’

by Gazette Staff
November 3, 2023
in Business
Hala Elsaid

Hala Elsaid

Share on FacebookWhatsapp

CAIRO – Egypt’s Minister of Planning and Economic Development Hala Elsaid said that the annual economic growth rate throughout fiscal year 2022-2023 recorded nearly 3.8 percent, despite the persistent global challenges as well as economic and geopolitical changes, including the rise in global inflation rate and the Russian-Ukrainian crisis.

The minister added that a target has been set to increase the annual economic growth rate to 4.2 percent in FY 2023-2024, despite the considerable challenges.

Elsaid was briefing a Cabinet meeting held Thursday, under Prime Minister Moustafa Madbouli, on key local and global economic indicators.

The global economic growth rate has been limping along since 2021 when it recorded 6%, declining to 3.5 in the following year 2022, the minister said.

The global economic growth rate is forecast to record 3% in 2023 and 2.9% in 2024, Elsaid added.

She attributed the slow global economic growth to the repercussions of the Russian-Ukrainian on the global supply chains and the industrial production growth rate, combined with the worsening external debt crisis of the emerging markets and developing countries.

The GDP of FY 2022-2023 recorded EGP 10.2 trillion, while the target was aimed to reach EGP 9.2 trillion, the minister said.

She highlighted a set of domestic economic activities that have achieved remarkable growth rates in FY 2022-2023, including hospitality industry, the Suez Canal, the information and communication technology sector, social services like health and education, alongside the agricultural sector.

Tags: BUSINESSeconomic developmentEgyptGrowth ratePlanningTop_News

Discussion about this post

ADVERTISEMENT
egyptian-gazette-logo

The Egyptian Gazette is the oldest English-language daily newspaper in the Middle East.
It was first published on January 26, 1880 and it is part of El Tahrir Printing and Publishing House.

Follow Us

Gazette Notifications

Would you like to receive notifications on our latest news ?

  • Advertise
  • Privacy & Policy
  • Contact

Copyrights for © Egyptian Gazette - Administered by Digital Transformation Management.

No Result
View All Result
  • HOME
  • EGYPT
    • Local
    • Features
  • World
    • National Day
  • Technology
  • BUSINESS
    • Real Estate
    • Automotive
  • SPORTS
  • ENTERTAINMENT
    • Arts
    • Health
    • Lifestyle
    • Travel
  • Skyward
    • Flight schedules
    • EgyptAir booking
    • Snippets from EgyptAir history
    • EgyptAir history
    • Your Shipment On Time
    • Discover the World of Shopping
  • MORE
    • Multimedia
      • Video
      • Podcast
      • Gallery
    • OP-ED

Copyrights for © Egyptian Gazette - Administered by Digital Transformation Management.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.