Arab Finance: The European Bank for Reconstruction and Development (EBRD) expects the growth of the Egyptian economy to narrow to 3% in the current fiscal year (FY) 2023/2024, Asharq Business reported.
The EBRD attributed its forecast to the pressures of foreign exchange shortages and uncertainty regarding reforms.
The bank explained that the economic outlook for Egypt’s economy during the next FY 2024/2025 is more positive, as the economic growth is likely to accelerate to 4%.