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Wednesday, 20 November 2019

Egypt's GDP growth for Q3 of 2017/18 fiscal year at 5.4 pct

Reuters , Thursday 17 May 2018
Planning Minister
Egyptian Planning minister Hala El-Saeed said the 5.4 percent growth rate for Q3 of 2017/18 is the “best growth rate in seven years.” (File Photo: Ahram)
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Egypt’s GDP growth for the third quarter of the 2017/18 fiscal year rose to 5.4 percent from 4.3 in the same period last year, the country’s planning ministry said in a statement on Thursday.
Egypt’s fiscal year begins in July and ends in June.
Egypt’s economy has struggled since a 2011 uprising drove tourists and foreign investors away, but tough economic reforms tied to a $12-billion three-year IMF programme agreed in late 2016 have led to positive indicators.
“The Egyptian economy is currently reaping the fruits of the bold economic reform program implemented by the government,” Planning Minister Hala al-Saeed said in the statement, adding that this is the “best growth rate in seven years.” 
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