18 Jul 2022

Fitch Solutions has upgraded Egypt’s GDP growth forecast for 2022 by 0.2% to become 6.2%. This new projection appeared in its recent report titled “MENA Key Themes 2022: Mid-Year Review.” The report predicts that the EGP/USD exchange rate will sit at 19.11 by the end of 2022. Fitch also see inflation in Egypt in 2022 averaging 13.2%. Overall, the report holds a positive outlook on the MENA region, with oil-exporting countries naturally witnessing the highest growth and prosperity due to higher oil prices. (Sources: Fitch Solutions (English), al-Ahram (English))