Egypt posts GDP growth of 5.6% in 6 months to Dec

Reuters , Wednesday 19 Feb 2020

Egypt’s economy grew by 5.6% in the six months to December, a government statement said on Wednesday.

Egypt’s economy has been boosted in the last three years by an upswing in tourism, strong remittances from Egyptian workers abroad and recently discovered natural gas fields coming on stream.

Growth has mainly been driven by the state sector.

The economy is expected to grow 5.8% in the fiscal year ending on June 30, and 5.9% in 2020/21, a Reuters poll said in January. 

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