Egypt economy grew 4.1 pct in fiscal 2014-15 – minister

Egyptian Investment Minister Ashraf Salman said Tuesday his country’s economy grew by 4.1 percent in the financial year that ended in June and projected it would grow by 5 to 5.2 percent in the year to next June.

Salman added in a speech at a lunch banquet sponsored by the American Chamber of Commerce that Egypt is targeting $10 billion in foreign direct investment for the current financial year.

The government hopes to cut unemployment from 11.2 percent to 10.6 percent this financial year, Salman said.

Source: Reuters