Egypt’s economic growth prospects will be stronger in 2025
Moody’s, the credit rating agency, expects Egypt’s economic growth prospects to be stronger this year.
The agency added in its report on “the future outlook for the economies of the Middle East and North Africa” during the year 2025, that growth prospects will be stronger due to the improvement in revenues from the Suez Canal, which declined by about 75 percent in 2024, due to the Houthi attacks in the Red Sea.
Moody’s explained that the decline in Suez Canal revenues caused the growth rate of Egypt’s overall gross domestic product to decline by more than a full percentage point over the past year.
The agency said that the expected increase in economic growth will depend on whether conflicts continue in the Middle East region or not. (Sky News)
