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Elham AbolFateh

Business

FS expects growth in Egypt to accelerate in FY2019/20

Thursday 02/May/2019 - 10:37 AM
Fitch Solutions
Fitch Solutions
Nada Moustafa
Egypt’s real GDP growth to accelerate moderately from 5.3% in FY2018/19 to FY2019/20، according to a report published by Fitch Solutions (FS) Macro research.

Investment will remain a strong driver of headline growth، primarily as a result of rising government spending on infrastructure and rapid development of the country’s hydrocarbon sector، the report read.

Growth will also increasingly be underpinned by private consumption as households’ purchasing power gradually improves، the report added.

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