Economy Egypt’s economic growth likely to accelerate, says bank By Nadim Kawach February 28, 2025, 10:33 AM Alamy via Reuters Egypt's economy is predicted to grow thanks to progress in housing, among other sectors Economic growth in Egypt, the third-largest Arab economy, is expected to accelerate this year, driven by expansion in several sectors including transport, financial services and housing, according to a European development bank. In the 2024-2025 fiscal year to June 30, growth may accelerate to 3.6 percent from 2.4 percent a year before, and 4.6 percent in 2025-2026, the London-based European Bank for Reconstruction and Development (ERBD) said in a report this week on economic prospects for the south and east Mediterranean region. “These growth trends are expected to continue driving momentum for the remainder of the year. In FY 2026 growth is expected to rise further to 4.6 percent as business confidence recovers and structural reform progresses,” the bank said. The EBRD was set up in 1991 to support central and eastern European countries transition to a market economy following the end of the Cold War. Egypt keeps interest rates steady as inflation looms Egypt unveils sizeable social package with wage hike The manufacturing, food and beverage and transport industries will also support Egypt’s growth, the bank said. Inflation slowed to 24 percent in January and may fall further as relatively high interest rates constrain borrowing and spending, the bank said.
