CAIRO: Egypt’s economy is likely to expand by 3-3.5 percent in the year to the end of June, the country’s central bank deputy governor said on Friday.
The government saw growth of around 6 percent before a bout of political unrest that toppled Egypt’s president and led to strikes and disruption across the economy.
Central Bank Deputy Governor Hisham Ramez said on a conference call that the economy would be much more positive in the medium term and the Suez Canal — a major source of foreign currency — would likely not be affected by the unrest.
Banks would reopen on Sunday, he added.
