Finance Minister: Egypt’s economic growth hit 6.6% in FY 2021/2022

CAIRO – Egyptian Finance Minister Mohamed Maeet said the Egyptian economy achieved a growth of 6.6 per cent during fiscal year 2021/2022.

At a press conference held at the premises of Finance Ministry to review the financial performance of the state’s general budget, Maeet said the average inflation rate in the aforementioned period reached 9 per cent, while it stood at 14.3 per cent in the past year.

He said the dollar exchange rate stood at LE18.79, while the average oil barrel price reached 91 dollars and wheat ardeb price stood at dlrs 345.

The total revenues of the state reached 1.325 trillion and 600 million, while tax revenues hit LE990 billion, recording a growth of 18.7 per cent, the minister said, adding that Egypt’s economic volume doubled 6.5 times since the FY of 2009/2010.