Egypt to Witness Moderate Growth in 2015/16Source: www.export-egypt.com 1/8/2016, Location: Africa |
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Egypt will witness a moderate growth up to 3.8 percent in the financial year ending in June 2016, the World Bank (WB) expected in a report.
In its Global Economic Prospects, the WB also expected an increase in the Middle East and North Africa region (MENA) growth rate to 5.1 percent in 2016 against 2.5 percent in 2015. Global growth disappointed again in 2015, slowing to 2.4 percent, and is expected to recover at a slower pace than previously envisioned. Growth is projected to reach 2.9 percent in 2016, as a modest recovery in advanced economies continues and activity stabilizes among major commodity exporters, the report said. Forecasts are subject to substantial downside risks. A more protracted slowdown across large emerging markets could have substantial spillovers to other developing economies, and eventually hold back the recovery in advanced economies. A broad-based slowdown across developing countries could pose a threat to hard-won gains in raising people out of poverty, the report warns. |
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