Finance Minister Hany Qadry Dimian said on Tuesday the government is seeking to restore investor confidence in Egypt’s economy that was heavily battered following the January 25 uprising more than three and a half years go.
During his keynote speech to Euromoney Egypt Conference that kicked off on Tuesday in Cairo, the finance minister stated that the local economic saw improvement last year. He added that the government is targeting 5-6% economic growth over the coming three years.
Meanwhile, the government targets 3% economic growth for this fiscal year, compared with 2% last year, Dimian noted.
The minister also indicated that the government will continue its economic reform steps through reforming the subsidy system and expanding tax base, in addition to shifting to value added tax.
Egypt will launch mega projects like the new Suez Canal project, in addition to the reclamation of 4 million feddans, in a bid to lure investors.
(Written by Ramy Sameeh; Translated by Sayed Abdel Rahman)