Egypt Expects 4.5% Growth in 2012/2013

By Administrator On May 16, 2012

Egypt’s international cooperation minister Faiza Abul Naga has said the interim government expects 4% to 4.5% growth in the economy for the fiscal year that starts on July 1, Reuters has reported. “The government aims to increase the growth rate to 4% to 4.5%, which is a bold rate given the current circumstances, by making larger investments,” Abul Naga told reporters. Last March, a survey of 11 economists forecast year-on-year gross domestic product (GDP) will grow by 1.6% in the financial year starting on July 1, 2012, but will rise to 4% the following year.