Egypt’s Planning Minister Hala Al Saeed said, in a statement on Monday, that Egypt’s real annual growth rate reached 3.8% in 2022-2023.
Upon reviewing a Ministry report on key economic statistics, Saeed stated that the GDP of Egypt was approximately LE10.2 trillion.
According to the research, during the fourth quarter of the fiscal year 2022–2023, unemployment rates rose to 7% of the total workforce or 30.9 million people for the official and informal economies.
It anticipated a decrease in the inflation rate, particularly in light of the current attempt to lower commodity prices. The inflation rate decreased slightly in September from 39.7% in August to 38%, according to the study.
According to the report, in 2022–2023, the balance of trade (BOT) deficit decreased by 28.1% to reach $31.2 billion.
According to the study, foreign direct investments and Suez Canal operations totaled around $10 billion in the most recent fiscal year, representing a 12.8% increase over the previous year.
