CAIRO, Jan. 17 (Xinhua) -- Egypt is enjoying strong GDP growth, estimated at 5.5 percent for 2019 and projected to be 5.8 percent in 2020, according to the United Nations World Economic Situation and Prospects (WESP) 2020.
The report, which is UN's publication on expected trends in the global economy, attributed the relatively strong growth to "a robust recovery of domestic demand and easing balance-of-payments constraints."
The report said the economic situation in North Africa is improving slightly with the GDP growth underpinned by resilient domestic demand.
Egypt's economy has been battered by years of turmoil following the 2011 popular uprising that toppled former President Hosni Mubarak.
However, the country has recently shown signs of economic improvement amid strict economic reforms, including tax hikes and energy subsidy cuts recommended by the International Monetary Fund that supports Egypt's economic reform plan with a 12-billion-U.S. dollar loan.
