Fitch Solutions revises its GDP projections for Egypt in FY2024/2025 from 4.2% Egypt GDP growth forecast for the 2024/2025 fiscal year, lowering it to 3.7 percent from an earlier projection of 4.2 percent. Despite this adjustment, Fitch remains cautiously optimistic about Egypt’s economic outlook. The report points out that the revised growth forecast still exceeds the 2.4 percent growth recorded in the previous fiscal year, reflecting a positive trajectory for the country’s economy. Egypt's economy is on a recovery trajectory, it noted, adding that the pace has been slower than anticipated, partly due to regional geopolitical tensions and trade disruptions in the Red Sea. The downgrade reflects weaker-than-expected economic performance in Q4 of FY2023/2024 and ongoing disruptions in Suez Canal traffic, which have exacerbated the country's financial challenges. #egypt #fitch #gdp #projection Read more: https://lnkd.in/eu6x5s_4
