Egypt Expected to Have Arab World's Strongest Ecnomic Growth

Reporting and discussing local, national and international news items.

Moderators: DJKeefy, 4u Network

User avatar
Winged Isis
Egyptian Pharaoh
Egyptian Pharaoh
Posts: 3867
Joined: Thu Jul 05, 2007 2:38 pm
Location: Australia
Has thanked: 1568 times
Been thanked: 1027 times
Gender:
Australia

Egypt Expected to Have Arab World's Strongest Ecnomic Growth

Post by Winged Isis »

EGYPT EXPECTED TO HAVE ARAB WORLD'S STRONGEST ECONOMIC GROWTH IN 2019
The global economy, however, might not be in for a great year.

CAIROSCENE TEAM

13/12/2018 11:14

Vice President of the World Bank, Mahmoud Modieldin, said on Wednesday that Egypt is forecasted to have the Arab World's strongest economic growth in 2019, predicting a growth rate between 5 and 6 percent, Gulf News reports.

The figure is double the average rate of the rest of the Arab World, which is estimated at 2 percent, with the economies of the Gulf Region - the richest in the Arab World - expected to grow at an average of 3 percent.

However despite such rates, the World Bank is expecting the region's economies to face many challenges this year, specifically in gaining the trust of investors. “We’re at a time of uncertainty," Mohieldin said.T"he secretary general of the United Nations said there is a crisis of trust, this is the general picture."

Indeed, the expected boom in Egypt's economy sits at odds with the general state of the global economy. Speaking at Dubai's Arab Strategy Forum on Wednesday, Nasser Saidi, Lebanon’s former minister of economy and trade, shared his gloomy prediction for the world's economy in 2019.

“If we look at global economies, there’s a consensus that between 2016 and 2020, there’s a slowdown in growth that may reach a recession. I’m of the side that believes that a recession is likely to start in 2019,” said Saidi.


http://cairoscene.com/Buzz/Egypt-strongest-arab-economy


Carpe diem! :le:
  • Similar Topics
    Replies
    Views
    Last post
  • Population growth in Egypt 4 x that of developed countries.
    by jewel » » in Know Egypt
    6 Replies
    758 Views
    Last post by Luxor Pharoahs
  • Low temperatures, rain, sandstorm expected in Egypt
    by DJKeefy » » in Know Egypt
    7 Replies
    871 Views
    Last post by BBLUX
  • Hot weather, sandy wind expected in Egypt Saturday
    by DJKeefy » » in Know Egypt
    0 Replies
    540 Views
    Last post by DJKeefy
  • Egypt president expected to call for elections in March
    by DJKeefy » » in Politics and Religion
    0 Replies
    393 Views
    Last post by DJKeefy
  • Storms lash Egypt, expected to continue until Thursday
    by DJKeefy » » in Know Egypt
    1 Replies
    464 Views
    Last post by LovelyLadyLux