Egypt’s economy will see solid growth in 2020. The pandemic has impacted the Egyptian economy primarily due to declining travel and tourist activity, reduced worker remittances, capital outflows, and slowdown in domestic activities as people are asked to stay home. The weaker demand in the global market will also reduce Egypt’s exports as well as earnings from the Suez Canal. Growth of real GDP will fall by 0.4% in 2021 and will increase to around 4.5% growth per annum on average by 2027.
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