Egypt’s economic growth to reach 5.7% in 2019: WB
in an effort to repatriate the country’s investors after the 2011 uprising.
“Headline inflation in Egypt remains near its 2018-end target level of 13%, despite edging up recently. Core inflation has been contained and the Central Bank of Egypt has conducted two policy rate cuts in 2018, despite tighter external financing conditions,” the report stated.
On a global base, the WB forecasts that the global economic growth will slow down to reach 2.9% in 2019, from a downwardly revised 3% in 2018 amid rising downside risks.
The WB further explained that the outlook for the global economy “has darkened” as global financing conditions have tightened, trade tensions have intensified, and some large emerging markets and developing economies experienced significant financial market stress.
Notably, this would be the second straight year of a slowing growth, as the global economy reached 3% last year, from 3.1% in 2017.