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  • 17-04-19

    Egypt seeks to achieve 6 percent increase in GDP in 2019/20 FY

    (MENAFN) Egypt is looking for a GDP increase of percent during its 2019/20 fiscal year, Egypt's Prime Minister Mostafa Madbouly stated on Tuesday.

    He affirmed that the economic reform program, adopted by Egypt in late 2016, "is necessary to save the country's economy."

    The tough reforms, which have been supported by the International Monetary Fund's 12-billion-dollar loan, included cuts in energy subsidies and imposition of a value-added tax.

    The prime minister affirmed, "The bold reform measures have prevented economic disaster in Egypt".

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