Reuters News
Reuters Images/Mohamed Abd El Ghany
CAIRO – Egypt’s economy expanded by 6.6% in the fiscal year that ended on June 30, with growth accelerating from the previous year’s 3.3% as activity recovered after the coronavirus pandemic before slowing again due to impact of the war in Ukraine.
The growth figure given in a cabinet statement on Thursday was higher than a preliminary 6.2% number cited by the central bank on Aug. 18.
The statement quoted Planning Minister Hala al-Saeed as saying the economy surged by 7.8% between July and March but that growth fell back to 3.2% in the period from April to June.
The restaurants and hotels sector led the surge, expanding by 45% as tourism recovered after the pandemic, with the communications sector growing by 16.3%, the statement said.
