Egypt sets 5.4% GDP growth target for 2021/2021 financial year – minister

Egypt has set a 5.4 percent GDP growth target for the financial year 2021-2022 that began in July, Planning Minister said on Sunday.

The targeted figure is higher from 3.6 percent the Egyptian government made in the 2020-2021 year ended on June 30.

Speaking at an economic conference in Cairo, Minister Hala al-Saeed said the targeted growth comes in line with the government’s economic and social reform policies, the decline in unemployment rate to around 7.5 percent, and decrease in inflation rates.

Earlier in late June, International Monetary Fund’s (IMF) mission chief for Egypt on the stand-by agreement programme Celin Allard said Egypt’s real GDP is expected to significantly grow to 5.2 percent in the financial year 2021/2022.