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Egypt eyes 5.6% GDP in FY18/19 - Minister

Egypt eyes 5.6% GDP in FY18/19 - Minister
Egypt’s finance minister Mohamed Maait

Cairo – Mubasher: Egypt aims to achieve a gross domestic product (GDP) growth of 5.6% in fiscal year 2018/2019, which is slightly lower than its previous target of 5.8%, the finance minister said on Tuesday.

The government targets a GDP growth of 6% in FY19/20, Reuters reported, citing Mohamed Maait.

Two government sources told Reuters last week that Egypt’s GDP rose 5.6% in the first half of fiscal year 2018/2019, from 5.2% in the same period a year earlier.

Maait previously stated that the North African nation was targeting a GDP growth of 5.8% this fiscal year.

It is worth noting that the country’s GDP increased by 5.4% in FY17/18.