Cairo – Mubasher: Egypt’s economic growth for fiscal year 2019/2020 is estimated to be between 3.7% and 3.8%, the country’s minister of planning Hala El-Saeed said.

This economic growth rate is higher than most emerging and developed countries for the same period, thanks to the measures taken by the government and the central bank, El-Saeed added in a statement on Tuesday.

The government raised its forecast for economic growth as the country posted high economic indicators before the coronavirus (COVID-19) crisis, registering a 5.6% growth in the first half of FY19/20.

Moreover, during the first quarter of 2020, the country’s non-oil trade deficit narrowed by 24%.