Egypt targets economic growth of 8 % by 2022 – minister

Egypt is targeting a growth rate between 7 percent and 8 percent by 2022, Planning Minister Hala el-Saeed said at a news conference on Wednesday.

The government’s economic development programme for the coming period includes institutional reforms by launching a number of new regulations, such as the investment and bankruptcy laws to attract more investors and encourage small and medium-sized enterprises to join the formal sector, the minister added.

Egypt has implemented measures to boost the partnership between the public and private sectors such as adopting economic reform programme that encourages investors to invest in Egypt and creating opportunities of partnerships via the presidency’s plan to sell shares in state-owned firms.

She noted that the GDP recorded 5.3 percent in 2017/2018, recording the highest rate in 10 year and marking a continuous growth for the sixth quarter in row.