Egypt Plans To Achieve 5.5% Growth Rate; Curb Deficit To 9% – Minister

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The ministry of planning prepared a long term plan called ‘Egypt 2020’ that targets the implementation of reforms, restructuring of the Egyptian economy in parallel with new stimulus packages to boost the growth rate and stimulate the economy, said Ashraf AlAraby, Egypt’s planning minister, in an interview with AlArabiya AlHadath channel.

The minister added that the plan is targeting a 5.5% growth rate and curbing the budget deficit to 9% of the GDP.

A legislative committee is looking into the amendment of legislative issues that impede investment, AlAraby revealed.

Regarding the new Suez Canal project, the minister said that it will transform the Egyptian economy and serve the region and the world. He added that new industrial and logistic projects will be built in the Canal Area and 5 large ports.

AlAraby declared that daily follow-ups are conducted for the Suez Canal Development project.

Source: Sada ElBalad website & Arab Finance