IMF: Egypt Set To Outperform Economic Growth in the MENA Region during 2020

With the effect of the COVID-19 pandemic weighing significantly on emerging markets, the International Monetary Fund (IMF) has narrowed Egypt’s real Gross Domestic Product (GDP) growth to 2%. 

In a recent report, the IMF projected that consumer prices in Egypt would reach 5.9% in 2020, and 8.2% in 2021, compared to 13.9% in 2019. The report added that Egypt’s current account growth is projected to decelerate by 4.3% in 2020 and by 4.5% in 2021, compared to a decline of 3.6% in 2019.

According to the IMF, Egypt is expected to be the only country to achieve a positive economic growth during the current fiscal year within the Middle East and North Africa (MENA) region. Acco...