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FINANCIAL NEWS
Egypt aims 5pct economic growth by 2018
26 Dec 2016
(MENAFN) Egypt eyes 5 percent economic increase by mid-2018, while the government seeks to revive an economy battered by political turmoil.
Accordingly, the country aimed to raise growth for 2017/2018 to five percent and to make real, productive jobs that help lower unemployment to 11 percent.
However, consumers have been hit by price hikes since Nov when Cairo floated its currency and slashed fuel subsidies linked to USD12bn Intl’ Monetary Fund loan.
Meanwhile, Egypt”s inflation rate jumped to 19.4 percent in the cited month from 13.6 percent the previous month.
M
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