The Cabinet’s Information and Decision Support Center said on Monday 29/11/2021 the Egyptian economy achieved a growth rate of 9.8 percent in the first quarter of 2021/2022 fiscal year, the highest quarterly growth rate over the past 20 years compared to the 0.7-percent growth rate achieved during the first quarter of 2020/2021.

This came in an infographic report published by the Information Center under the title of “The Egyptian economy records the highest quarterly growth rate in 20 years”.

The info highlights the initial indicators of the performance of the Egyptian economy during the first quarter of 2021/2022.

It expects that annual growth rate to range between 5.5% to 5.7% at the end of 2021/22.

As part of the sectors’ growth rates, the infographic report showed that the restaurants and hotels sector achieved the highest quarterly growth rate among all business sectors with a 181.8-percent growth rate, which reflects the remarkable recovery of this sector after the repercussions of Covid-19 pandemic.

The transformative industries sector also achieved a high quarterly growth rate of 15.2%, the highest to be achieved by this sector in the past 20 years, to be followed by the construction sector that achieved a growth rate of 10.5% as a result of growing investments of the New Urban Communities Authority.

Source: State Information Service Egypt