Egypt is one of 3 economies in MENA to achieve growth in 2020, minister

Egypt has become one of three economies in the MENA region to achieve growth in 2020, thanks to the reforms that helped the country become more resilient to external shocks, according to Minister of Planning and Economic Development, Hala El-Saeed.

Egypt’s public investments surged by 70 percent to 595 million Egyptian pounds in 2020, El-Saeed said during her speech on behalf of Prime Minister Mostafa Madbouly in the second edition of Egypt Economic Summit on Wednesday.

The country posted economic growth of 5.6 percent in fiscal year 2019/2020 and about 5 percent in the third quarter (Q3) of the same year, she added.

She revealed that a plan will be adopted by the beginning of 2021 to control population growth which rises by 2.5 million each year with expectations to reach 130 million by 2030.