IMF lowers projections for Egypt's real GDP growth in FY2023/2024

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IMF lowers projections for Egypt's real GDP growth in FY2023/2024

STORY: IMF lowers projections for Egypt's real GDP growth in FY2023/2024 SHOOTING TIME: Earlier footage DATELINE: Jan. 31, 2024 LENGTH: 00:00:52 LOCATION: Cairo CATEGORY: SOCIETY SHOTLIST: 1. various of Central Bank of Egypt 2. various of Egyptian banknotes and U.S. dollars STORYLINE: The International Monetary Fund (IMF) has downgraded its forecasts for Egypt's real GDP growth in the current FY2023/2024 to 3 percent, down from the 3.6 percent it projected in October of 2023. In its updated World Economic Outlook (WEO) report released on Tuesday, the Fund has also lowered its projections for the country's real GDP growth in the incoming FY2024/2025 to 4.7 percent, down from 5 percent it projected in October of 2023. An IMF mission is now in Egypt to discuss a possible additional financing package for the country that is suffering a severely challenging economic situation amid the repercussions of global and regional tensions. Egypt is currently experiencing harsh economic woes, mainly the severe

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