Finance Minister: Egypt will be among the top 10 economies in the world by 2030.

Egypt's Finance Minister Mohamed Maait claimed on Wednesday that Egypt will join the world's top ten economies in 2030, jumping from 21st to seventh place in GDP globally, according to Standard Chartered Bank forecasts.

Egypt will become the first Middle Eastern country to restore global growth rates prior to the emergence of the virus, with 5.5 percent of GDP recorded in fiscal year 2021/2022, according to the Minister of Finance.

According to the International Monetary Fund, the Egyptian economy is a successful model for economic transformation, even during the outbreak of the virus, according to Maait.

He noted that it outperformed many other economies in the area, rising to second place among the Arab world's top economies in 2020, after Saudi Arabia. Moreover, despite the Corona virus outbreak, credit rating agencies such as Moody's, Standard & Poor's, and Fitch maintained Egypt's rating with a stable outlook.