Real GDP growth decelerated to 3.8% in 2Q15/16 from 4.3% a year earlier, according to Minister of Planning Ashraf Al Arabi. Growth has also decelerated to 4.5% in 1H2015/16 from 5.5% in the same period last year, Al Arabi said. The Ministry of Planning forecasts GDP to grow 4.4% in FY15/16 and 5.2% in FY16/17. In April, the Central Bank of Egypt had forecast the economy to grow 3.5% in 1H FY15/16, based on preliminary data. We note that quoted numbers vary from those published on the Ministry’s website, which states that growth was actually unchanged Y-o-Y at 4.0% in 2Q15/16, while 1H2015/16 average growth stood at 3.5% (vs. reported 4.5%). We will, therefore, be awaiting possible revisions in the numbers on the website to update ours. Our forecasts call for a deceleration of growth in FY2015/16 to 3.7% from 4.2% a year earlier, as falling tourism revenues and FX shortages slow down economic activity. (Reuters, Mohamed Abu Basha)