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FINANCIAL NEWS
Egypt economy to increase by 3-3.5 percent this year
17 Apr 2016
(MENAFN) According to the IMF which proclaimed that Egypt has achieved greater stability and confidence in economy, to cut the balance of payments deficit.
Moreover, the growth forecast for Egypt this year ranges between 3-3.5 percent, down from 4.2 percent last year, due to the drop in tourism revenues.
Additionally, major national projects can help accelerate growth and make jobs, whereas Egypt requires USD 12bn per year.
Furthermore, the IMF reached an agreement with Tunisia that involves a loan program of USD 2.8bn through four years.
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