Egypt targets 5% GDP growth by end of 2017-18

Egypt targets 5% GDP growth by end of 2017-18

Egypt expects its gross domestic product to grow by 5% by the end of FY2017-18,  Invest-Gate reports.

In a statement, Planning Minister Hala el-Saeed has put the figure of the GDP growth at slightly higher than previously predicted by government.

Finance Minister Amr El-Garhy said in a televised interview earlier this month that he expected GDP growth to reach the 4.6-4.8% range in FY2017-18.

The Egyptian fiscal year begins in July and ends in June. Egypt’s exports are expected to increase to USD 22.5 bn by the end of FY2017-18 compared with the USD 20.5 bn it reached by the end of the previous year, el-Saeed says in the statement. She predicted exports would rise above USD 30 bn by the end of FY2019-20.

Menna A. Farouk 368 Posts

Menna A. Farouk is a Cairo-based reporter. She has contributed to several international news organizations, including Deutsche Welle, Al-Monitor and Global Voices.


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