Egypt’s FY2017 economic growth not below 4%: minister

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Egypt’s economic growth rate would not fall below for during the financial year 2016/2017 four percent.

As for the fourth quarter, the minister said that growth rate will not be less than 4.5 percent.

The minister also told Reuters on Saturday that she projected foreign direct investment in the country had reached $8 billion to $8.5 billion during the financial year 2016/2017, which ended in June.

El Saeed also noted that the government is targeting a 20 percent increase in foreign direct investment (FDI) in financial year 2017/2018.

The Egyptian government had projected a growth rate ranging between 3.8 percent and 4 percent for the current financial year.