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The Coronavirus outbreak has impacted Egypt’s growth resulting in a reduction of the current year's GDP, which was initially forecast at 5.6%, but has now been decreased to 5.1%.
The persistence of the health crisis could also jeopardize the objective of the fiscal year 2020/2021. Initially set at 4.5%, the GDP rate could then fall to 3.5%.
In addition, the strong demand for everyday consumer products would cause the inflation rate to significantly increase to 9.8% over the next fiscal year.
