Egypt eyes GDP growth of 6% in FY19/20

Egypt eyes GDP growth of 6% in FY19/20
Egypt is likely to achieve a GDP of 5.7% this current fiscal year

Cairo – Mubasher: Egypt is targeting a gross domestic product (GDP) growth of 6% in fiscal year 2019/2020.

The most populous Arab state is likely to achieve a GDP of 5.7% this current fiscal year, versus 5.3% a year earlier, according to the Ministry of Finance’s (MoF) FY18/19 financial semi-annual report.

The report added that Egypt aims to achieve a GDP growth of EGP 6.17 trillion in FY19/20, projecting the country to generate EGP 5.25 trillion this fiscal year.

Last week, finance minister Mohamed Maait stated that Egypt targets a GDP growth of 5.6% in FY18/19, which is slightly lower than its previous target of 5.8%.