"The Egyptian economy realized growth rates more than 7.1 percent," Minister of Finance Youssef Botrous Ghali said, adding that surplus in the balance of payments increased from $ 3 to 5 billion.

"Also, surplus in the current account surged from $ 1.7 billion to $ 2.6 billion in the last fiscal year," Ghali made it clear.

Speaking at Euromoney Egypt Conference which was inaugurated on Monday 4/9/2007, Ghali underlined the government's efforts to bring inflation rates under control, citing the adoption of a draft of economic measures to ensure stability of growth rates and prices.

"There are several elements affecting the inflation rates, including the rise in prices in international markets," Ghali said.

"The expansion of investments would increase productivity and in turn decrease inflation rates," Ghali said.

Ghali also referred to the merging to Egypt's economy into the international one, saying that bonds at a value of LE 14 billion were put up for sale on the international market.

"This reflects trust in the Egyptian economy performance and shows that Egypt has taken the right path towards comprehensive growth," Ghali added.

5/9/2007