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Egypt needs over 7% annual growth – El Sisi

Egypt needs over 7% annual growth – El Sisi
Egypt’s population grows by around 2.5 million people annually

Cairo – Mubasher: President Abdel Fattah El Sisi on Tuesday said that Egypt needs to achieve an economic growth of over 7% per annum to deal with its growing population.

Speaking on the sidelines of the World Youth Forum in Sharm El Sheikh, El-Sisi highlighted that Egypt was looking to establish sustainable development that could benefit future generations.

Egypt’s population grows by around 2.5 million people annually, who need education, healthcare, jobs, and a place to live, the President said.

The rise in population is Egypt’s biggest challenge at present, the President highlighted during the conference, adding that the problem requires an effort from the entire community.

In September, finance minister Amr El Garhy forecast that the Egyptian economy will grow by around 5% to 5.25% in the current fiscal year, whereas in July ratings agency Fitch had forecast that Egypt’s gross domestic product (GDP) would grow by 4.6% in the current fiscal year.