Egyptian economy 2nd largest Arab and African economy by 2022: IMF

The Cabinet Media Center published an infographic report highlighting expectations from the International Monetary Fund that the Egyptian economy will become the second largest Arab and African economy during 2022.

Through its economic and structural reform program, the Egyptian state has been able to transform challenges into development opportunities, and establish a strong, coherent, diversified and flexible national economy that is able to achieve goals and positive growth rates, face crises and overcome their repercussions internally and externally, becoming a productive economy and enjoy competitive capabilities in the global economy, the report said.

The IMF expectations of the most prominent economic indicators in the coming years indicate an increase in total revenues as a percentage of GDP, to 18.6 percent in 2021/2022, 18.7 percent in 2022/23, 18.9 percent in 2023/2024, and 19.1 percent in 2024/2025, the report added.

The IMF also expected a decline in the total deficit as a percentage of GDP to seven percent in 2021/2022, 6.2 percent in 2022/2023, 5.7 percent in 2023/2024, and 5.3 percent in 2024/2025.

It predicts that the Egyptian economy will continue achieving primary surplus as a percentage of GDP to reach 1.5 percent in 2021/22, and two percent in 2022/2023, 2023/2024 and 2024/2025.

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