Egypt's GDP Developments for the fourth quarter and FY 2023/2024
Main / Media / News / Egypt's GDP Developments for the fourth quarter and FY 2023/2024 03 October 2024 Egypt’s GDP growth rate records 2.4% in the fourth quarterof FY 2023/24, bringing the annual growth rate to 2.4%, down from 3.8% in FY2022/23. This occurred amid ongoing geopolitical tensions and global economicuncertainty, coupled with the government’s contractionary policies aimed atrestoring macroeconomic stability—strengthening the governance of publicinvestments being a key policy.This was offset by positive growth in select sectorsincluding communications and information technology, tourism (reflected inrestaurants and hotels), wholesale and retail trade, and transport and storage,along with social services such as education and health, has partially offsetthe slowdown in economic activity in other key sectors.Despite these challenges, an improvement in economicactivity is anticipated as the government implements prudent macroeconomicmeasures and strengthens public investment go...