Egypt’s economic growth seen at 4.2pc

CAIRO: Egypt´s economy will grow 4.2 percent in the fiscal year that began in July, well below government projections of 5.3-5.5 percent, economists said in a Reuters poll published on Tuesday.

The economy has struggled since the 2011 uprising against Hosni Mubarak drove tourists and foreign investors away, but sweeping reforms as part of an International Monetary Fund loan agreed last year are expected to boost growth.

The poll of 12 economists put growth at 4.2 percent for the 2017/18 fiscal year and 4.5 percent for the following year.

Growth was seen rising 4.6 percent in the 2019/20 fiscal year. "Economic growth prospects have improved as reform efforts bear fruit.