Last Update 17:52
Monday, 22 July 2019

Egypt expects 5.8 pct economic growth in Q4

Reuters , MENA , Wednesday 8 May 2019
File Photo: Egypt's Planning minister Hala El-Saeed (Photo: Al-Ahram)
Views: 3890
Views: 3890

Egypt’s economy is expected to grow at 5.8 percent in the fourth quarter of the 2018/19 financial year, the Planning Minister Hala El-Saeed said in a statement on Wednesday.

The country registered economic growth estimated at 5.6 percent in third quarter of 2018-19, compared to 5.4 percent the year before, the statement said. 

In an earlier statement, El-Saeed said that the decline of the monthly inflation rate to 11.1 percent in December 2018, the lowest in 33 months – since 2016 – is among the positive indicators combined with the notable retreat of the average inflation rate in the first half of 2018/19 to record 14.1 percent compared to 30.2 percent in the same corresponding period of 2017/18.

Egypt's national economic and social reform programme mainly targeted attaining inclusive and sustainable growth through undertaking structural reforms for several sectors, namely the sector of power through rationalising subsidy and chiefly directing it to those who need it most, a statement by the planning ministry quoted the minister as saying.

She pointed out to the parcel of legislative and institutional reforms implemented by the government – to enhance the competitive abilities and retain the trust of investors – like the liberalisation of the exchange rate, boosting foreign currency reserves and bringing down both the deficit of state budget and public debt.

Short link:


Ahram Online welcomes readers' comments on all issues covered by the site, along with any criticisms and/or corrections. Readers are asked to limit their feedback to a maximum of 1000 characters (roughly 200 words). All comments/criticisms will, however, be subject to the following code
  • We will not publish comments which contain rude or abusive language, libelous statements, slander and personal attacks against any person/s.
  • We will not publish comments which contain racist remarks or any kind of racial or religious incitement against any group of people, in Egypt or outside it.
  • We welcome criticism of our reports and articles but we will not publish personal attacks, slander or fabrications directed against our reporters and contributing writers.
  • We reserve the right to correct, when at all possible, obvious errors in spelling and grammar. However, due to time and staffing constraints such corrections will not be made across the board or on a regular basis.

© 2010 Ahram Online.