Cairo-Mubasher: The Egyptian budget proposal for the fiscal year 2016/2017 targets a 5% economic growth, the finance ministry said on Friday.

The government is planning on decreasing unemployment rates to an average of 11% and 12%, from 12.8% in September 2015.

Moreover, the country plans to shrink the budget deficit to an average between 8% and 8.5% on the medium term, by the fiscal year 2019/2020.

It is noteworthy that Egypt’s economy has grown 4.2% during the previous fiscal year which ended 30 June, 2015.