Kandil: $276 bln Foreign Investments Expected on Long-term

Dr Hesham Kandil, Egypt’s Premier, said the stock markets in all countries play a paramount important role in developing the national economy of the countries, where are whipping countries willing to invest seriously.

Kandil added that this period is very important for Egypt as the transitional period is about end after holding a referendum on the constitution and electing a parliament. Therefore, the Egyptian market will be able to attract more investments and playing a pivotal role in the coming period.

The Egyptian government agreed with the International Monetary Fund (IMF) during the past two weeks, this will pave the way for the government to face the deficit.

The government has a plan for developing the national economy, represented in achieving the economic growth rates reach 3.5%, 4.5% by 2017, and achieving sustainable development to Egypt and reaching 7% targeted growth rates by 2022, and providing 800 thousand job opportunities to face the unemployment through boosting the foreign investments; expecting foreign investments value amounts to % 276 billion in the coming period.