FINANCIAL NEWS

Egypt’s economy grows 0.4% in Q4

08 Mar 2012

(MENAFN) Egypt’s Ministry of Planning and International Cooperation said that the country’s gross domestic product (GDP) grew 0.4 percent in the fourth quarter, reported The National.

The ministry added that the rebound wouldn’t offset the full-year economic deterioration.

It also said that across the full year, the country’s economy shrank by 0.8 percent.

It is worth noting that Egypt’s construction sector slipped by 0.6 percent in the fourth quarter, compared with a decline of 2.8 percent in the third quarter, whereas tourism dropped 6.5 percent from a fall of 10.4 percent in the previous quarter.

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