Will Egypt's economic growth slow down in FY2022/23?

The recent surge in economic activity has set Egypt on track to achieve growth of 5.5% in FY2021/22. However, base effects and the demand overshoot are expected to start tapering off and economic activity will be adversely affected by the repercussions of the war in Ukraine. Thus, growth is expected to slow down in FY2022/23.

What's going on with Egypt's economy?

The country's economy has also been hit hard by the coronavirus pandemic, and the fallout from the war in Ukraine [File: Mohamed Abd el-Ghany/Reuters] Egypt continues to battle surging inflation amid a dramatic slide of its currency as many Egyptians struggle with price hikes, the country’s statistics bureau has said.

What is Egypt's economic crisis?

Egypt's economic crisis compels people to make hard spending choices, and challenges the government to accept more foreign aid to support a rapidly growing population. This audio was produced by Lisa Weiner and edited by Jacob Conrad. Egypt is the Middle East's biggest country, but it is facing a deepening economic crisis.

Is inflation affecting Egypt's economy?

Most of Egypt’s more than 104 million population has suffered due to inflation since the government embarked on an ambitious reform programme in 2016 [File: Mohamed Abd el-Ghany/Reuters] This goes somewhat towards absorbing a 25 percent devaluation in late October but portends more inflation to come, Sandeep said.