In October 2019, the economy plunged into a financial crisis brought about by a sudden stop in capital inflows, which precipitated banking, debt , and exchange rate crises
Growth in Egypt is expected to have remained positive, but declined from 5.6% in FY2019 to 3.5% in FY2020, and then further to 2.3% in FY2021, before rebounding in FY2022.
Algeria’s long-term growth performance is slowing down, driven by a shrinking hydrocarbon sector, a winded public-led growth model, and an underdeveloped private sector.