Egypt’s economy achieves highest growth rate in 11 years: Cabinet

Egypt’s cabinet said that Egypt has achieved the highest economic growth rate in 11 years.

Egypt’s economy is among the Middle East’s most important economies for 2020 for the third year in a row on basis of growth rates

An info-graphic published by the cabinet’s media center indicated that the Egyptian growth rate hit 5.6 percent in 2018/2019, compared to 5.3 percent in 2017/2018.

The figures show the continued improvement of the Egyptian economic performance and the success of the reform policies that the state has adopted since 2016, the cabinet said.

Egypt’s growth rate was expected to remain the best across the Middle East in 2020 for the third consecutive year, according to the info-graphic.

The targeted growth rate in 2020 is 6%, followed by Iraq whose growth rate is targeted to reach 5.2 percent, the cabinet added.