Economy Egypt’s GDP surged by 6.6% in year to June-end By Reuters August 26, 2022 Creative Commons The restaurants and hotels sector led the surge, expanding by 45 percent as tourism recovered after the pandemic. Egypt’s economy expanded by 6.6 percent in the fiscal year that ended on June 30, with growth accelerating from the previous year’s 3.3 percent as activity recovered after the coronavirus pandemic before slowing again due to the impact of the war in Ukraine. The growth figure given in a cabinet statement on Thursday was higher than a preliminary 6.2 percent number cited by the central bank on August 18. The statement quoted Planning Minister Hala Al-Saeed as saying the economy surged by 7.8 percent between July and March but that growth fell back to 3.2 percent in the period from April to June. The restaurants and hotels sector led the surge, expanding by 45 percent as tourism recovered after the pandemic, with the communications sector growing by 16.3 percent, the statement said.
