Egypt targets 5.5% growth rate in FY2018/19: deputy FinMin

Egypt’s government is targeting a growth rate of 4.8 percent for the 2017-18 financial year and 5.5 percent for the 2018-19 financial year, said deputy finance minister Ahmed Kouchouk on Saturday.

The government is also seeking to decrease unemployment rates to 11.9 percent in the 2017-18 financial year and 11 percent in the 2018-19 financial year, Kouchouk added.

Speaking at a news conference, Kouchouk said the government is also looking to reduce the country’s total public debt gradually from 98 percent expected for the current financial year to 89.5 percent of GDP by mid-2019.