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.
With persistent political instability, the economy has struggled to garner investor confidence since the revolution such that GDP growth averaged just 1.5% between 2011 and 2019.
The Environmental and Social Framework aims to protect people and the environment in investment projects supported by the World Bank. It responds to new and varied development demands and challenges that have arisen over time.
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