The government is eyeing an economic growth rate of 5.5-6% in the coming years with its current economic policies and reform program, Invest-Gate reports.

“Such policies will enable the country to compete globally, reduce inflation, cut budget deficit and boost the country’s economy,” says Minister of Finance Amr El-Garhy, according to a released statement .

However, El-Garhy adds that several challenges are still facing the national economy, which has negatively been affected by previous policies of successive governments.