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#real gross domestic product

The World Bank revised Egypt's projected real gross domestic product (GDP) over the current and coming fiscal year (FY), cutting the number to 4 percent from 4.8 percent in their June 2023 Global Economic Prospects report. The bank previously estimated Egypt's real GDP growth to be 4.5 percent in FY 2022/2023 and 4.8 percent in FY 2023/2024. The adjusted outlook for FY 2023/24 and FY 2023/24 is credited to Egypt’s ongoing economic struggles. “Rising costs, difficulties securing imported inputs, and…