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Egypt targets GDP growth of 5.6% in 2019

Egypt is targeting gross domestic product (GDP) growth of 5.6 per cent in the fiscal year ending June, Finance Minister Mohamed Maait said on Tuesday.

Maait said in Cairo that the growth would be slightly lower than its previous target of 5.8 per cent, without explaining the reason for the shortfall.

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He said the government would target GDP growth of 6 per cent in the 2019-2020 financial year.

The country’s GDP grew at an annual rate of 5.5 per cent in the period from October to December 2018.
Maait said that growth in the third and fourth quarters was expected to be higher. (NAN)