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Egypt's economy to see a growth of 4.2% in FY 2022/23

Egypt's economy to see a growth of 4.2% in FY 2022/23

Posted on March 15, 2023   |  

In October- December 2022, the gross domestic product grew by 3.9%, and the unemployment rate fell to 7.2%.

In July-September, economic growth slowed from 4.4%, while the unemployment rate slipped from 7.4% in that quarter.

Suez Canal revenues reached $2.2 billion in the 2nd quarter, up from $1.7 billion in the same period a year earlier.

In November, Egypt expected its economy to grow by 5% in 2022/23 and for the fiscal year 2023/24, Egypt targets GDP growth of 5.5%.