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FINANCIAL NEWS
Egypt’s economy to grow 3.3 percent in current FY
03 Oct 2014
(MENAFN) Economy in Egypt is expected to grow 3.3 percent this fiscal year ending June 2015, which is close to the government’s prediction of 3.5 per cent growth in gross domestic product, Gulf News reported.
Egypt, which has received more than USD12 billion in aid from Gulf states has been trying to keep the country’s economy afloat with the help of these aids as well as some the government introducing economic reforms in an attempt to encourage growth while dealing with the country’s budget deficit.
Meanwhile, Egypt’s Ministry of Finance said that the country’s gross domestic product (GDP) grew 3.5 percent in the fourth quarter of the 2013/14 fiscal year, and that the country is targeting a growth of 4 to 5.8 percent over the next three years.
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