Egypt Economy Growth Slows to under 2%Source: www.export-egypt.com 6/18/2012, Location: Africa |
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The Egyptian central bank has said that political turmoil will slow economic growth to under 2% 2012 from 2.5% last year, Reuters has reported. "We have a revolution," central bank governor Farouk El-Okdah told the news service when asked why growth would slow. He did not elaborate. In April, the International Monetary Fund had forecast Egypt's gross domestic product growth would slow to 1.5% in 2012 from the 1.8% which it estimated for 2011.
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