Egypt Economy Grew By 2.2 Pct In Jan-March -Planning Ministry

Egypt’s economy grew by 2.2 percent in the first quarter of 2013, unchanged from the previous quarter but slower than the 5.2 percent recorded a year earlier, the state news agency quoted the planning ministry on Monday as saying.

The economy had several years of 7 percent growth before the popular uprising that brought down Hosni Mubarak in February 2011, but since then has suffered from a collapse in tourism and foreign investment and an increase domestic labour disputes.

In the nine months to end-March, gross domestic product rose by 2.3 percent, up from 1.8 percent from the same nine months a year earlier. Egypt’s financial year begins on July 1.

Source: Reuters