Egypt’s GDP grows 4.5% in 2024-25, boosted by reforms and manufacturing

Egypt’s GDP grows 4.5% in 2024-25, boosted by reforms and manufacturing

CAIRO (Reuters) -Egypt’s real gross domestic product grew by 4.5% in the 2024-25 financial year, up from 2.4% the previous year, Finance Minister Ahmed Kouchouk said on Saturday, boosted by reforms tied to IMF financing and increased manufacturing activity. The Arab world’s most populous country has come under economic pressure from a currency devaluation in March 2024, high inflation, and the impact of the war in Gaza. Inflation, which peaked a…

Egypt records GDP rise as reforms bite

Egypt’s economy posted stronger growth in the 2024-25 financial year despite severe external shocks and domestic pressures. Finance Minister Ahmed Kouchouk announced Saturday that real GDP expanded 4.5 percent, rising from 2.4 percent a year earlier. He credited reforms under an $8 billion IMF programme and increased manufacturing activity for the improvement, which exceeded the 4.2 percent official forecast. The government also secured $24 bill…