Egypt targets 8% growth until 2015

21 Dec 2010

(MENAFN) Egyptian President Hosni Mubarak said that Egypt aims to achieve an average annual growth rate of eight percent in the next five years through a program of economic reforms, Reuters reported.

The main priority remains to contain unemployment and create jobs, he said, stressing that the target was annual average growth of 8 percent for the next five years, up from around 6 percent in the current fiscal year.

Egypt has won praise from institutions such as the World Bank for its steps towards liberalising the economy.

Mubarak’s ruling National Democratic Party scooped 420 of 508 seats in parliament in polling on November 28 and December 5 after Egypt’s two main opposition groups dropped out of the election in protest at alleged fraud.

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