Egypt’s Minister of Planning, Hala El Saeed, said in a cabinet meeting that the sectors of telecommunications, construction, tourism, industry, natural gas, and the Suez Canal recorded the highest rate in the economic growth during the first quarter of the fiscal year (FY) 2019/20, noting that the Purchasing Managers’ Index (PMI) witnessed a 49.5-point increase in September, 2019.

The Egyptian Cabinet held the weekly meeting number 62, as El Saeed pointed out that the economic growth stabilized during the Q1 FY 2019/20, representing 5.6%, according to an official statement published on Cabinet’s website.

It is estimated that global economic growth would retreat in 2019 to record 3%, while it would reach 3.4% in 2020, due to several factors, including changes in oil prices, El Saeed added.