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FinancialNews


  • 10-09-19

    Surge in Egyptian economic growth to 5.6 percent

    (MENAFN) Egyptian Finance Minister Mohamed Maait revealed the country to have registered a 5.6 percent economic growth during the 2018-19 fiscal year.

    Speaking at a Euromoney conference, the finance minister explained that "the current economic growth is prompted by the increase of investments and exports."

    Minister Maait further explained that the growth rate boost is driven by a drop witnessed in the unemployment rate, which stood at 7.5 percent in June this year.

    Other signs for better economic growth, Maait added, are a decline in public debt to reach 90.2 percent by June from the 107 percent posted in 2016-17.

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