Economist Bassam El Neifar stated that the growth rate recorded throughout 2024, estimated at 1.4%, fell short of expectations despite the positive contributions from the agriculture and tourism sectors.
In a statement to Mosaïque FM, he emphasized the need to continue efforts to improve this rate by addressing challenges in the extractive sectors, given their crucial role in generating foreign currency.
He also highlighted the importance of stimulating domestic consumption and maintaining internal demand.
During discussions on the 2025 budget, expectations were set on achieving a growth rate of
1.6% in the previous year, noting that international financial institutions had anticipated the rate would not exceed 1.2%.
El Neifar pointed out that the fourth quarter of last year saw a growth of 0.9% compared to the third quarter of 2025 but increased by 2.4% compared to the fourth quarter of 2023.
He added that the most prominent sector contributing to the mentioned growth rate was agriculture, which achieved 12.1% growth in the fourth quarter, accounting for 0.97% of the 2.4% growth rate recorded during that period.
However, the value added by extractive industries declined due to reduced phosphate and natural gas extraction during the same period.
On the other hand, the economist noted that the industrial sector’s performance was positive in the fourth quarter, despite a 0.9% decline for the entire year.
