Egypt’s gross domestic product grew 3.5 percent in the fourth quarter of the 2013/14 fiscal year, signalling that the economy was finally recovering from recent turmoil, the official Mena news agency quoted Finance Minister Hani Dimian as saying.
Political turmoil since the 2011 uprising that ousted Hosni Mubarak has hurt Egypt’s economy and hit investor confidence. The government is now walking a fine line between trying to cut its deficit whilst luring investors and restoring growth.
Egypt’s gross domestic product grew 2.1 percent in the 2012/13 fiscal year. Official fourth quarter growth figures have yet to be published.
Source : Reuters