18 June 2018 05:37 PM

Planning Min. expects growth rate not less than 4% for 2016/2017

Sunday، 16 July 2017 - 12:58 PM

Minister of Planning Hala el Saeed said on Saturday 15/7/2017 that economic indicators for the first nine months of FY 2016/2017 were positive.

The minister told economic reporters that the third quarter of the fiscal year witnessed a positive leap, as the growth rate recorded 4.3 per cent, compared to 3.6 per cent in the same quarter of FY 2015/2016; a result of the beginning of the tourism sector's recovery that hit 80 per cent growth rate, as well as the telecommunications sector by 10.7 per cent, the construction sector by 7.9 percent, and the transport sector by 4.4 per cent.

She added that the basic signs of the fourth quarter are moving in the same direction.

These positive signs come despite steps taken in the economic reform program, the minister said.

The country's GDP growth rate will not fall below 4 per cent in FY 2016/2017, against 4.3 percent in the previous year, she added.

The initial budget deficit in the FY 2016/2017 ranges between 10.4% and 10.5% of the GDP, against 12.5% in the FY 2015/2016, the minister said.


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