Real estate related economic and financial news covering the MENA region.
Egypt economy growth slows to under 2%
Jun 18, 2012
The Egyptian central bank has said political turmoil will slow economic growth to under 2% 2012 from 2.5% last year, Reuters has reported. ôWe have a revolution,ö central bank governor Farouk El-Okdah told the news service when asked why growth would slow. He did not elaborate. In April, the International Monetary Fund had forecast Egypt's gross domestic product growth would slow to 1.5% in 2012 from the 1.8% which it estimated for 2011.