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Egypt needs $61 bn in investments to grow at 5%: Investment Minister to Euromoney

Egypt's investment minister told Euromoney Egypt Conference that the country needs $61 billion in domestic and foreign investments to grow at five percent

Waad Ahmed , Monday 7 Sep 2015
Egypt's Investment Minister Ashraf Salman talks to the media during the Euromoney Conference in Cairo, Egypt September 7, 2015 (Reuters)
Views: 2123
Views: 2123

Egypt needs LE400 billion ($51.1 billion) in domestic investments and $10 billion in foreign direct investments to grow at a rate of 5 to 5.5 percent of GDP, minister of investment Ashraf Salman told the Euromoney Egypt Conference on Monday.

Egypt has embarked on 'aggressive' fiscal policy reform since the election of president Abdel-Fattah El-Sisi in June 2014 to clench the widening finance gap.

The government is targeting a 5 percent growth rate in fiscal year 2015/16, up from the expected 4.2 percent in the previous fiscal year. 

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