Egypt’s Gross Domestic Product Expected to Grow by 3.4% in 2020/21: Fitch Solutions

A report by Fitch Solutions (Fitch) titled “Country Deep-Dives, A Closer Look at Growth Prospects in the GCC States and Egypt”, anticipates Egypt’s Gross Domestic Product (GDP) growth to come in at 3.4% in 2020/21.

Fitch notes that some sectors such as retail, pharmacy, grocery, transit stations and workplaces, are showing signs of a rebound, following steep declines in May 2020.

According to Fitch, a weak outlook for Egypt’s tourism, investments as well as remittance inflows will continue to hamper the country’s growth performance. The report further stated that although renewed risks of volatility exist, the loan received from the International Monet...