Egypt’s PM Eyes Growth, Aims To Cut Deficit

Prime Minister Hisham Kandil expects Egypt’s economy to grow by 3-4 percent in the financial year 2012/13 and could hit the government’s target of 4-4.5 percent if its goals for public and private investment flows were achieved, he said on Sunday.

Speaking to Reuters in an interview he also said that the government aimed to cut the budget deficit, now running at about 8 percent of gross domestic product, by 1 percentage point in two years, although he said that target was “dynamic”.

Reuters