19 April 2024 10:43 AM

Finance Ministry: Egyptian economy achieved 5.6% growth

Wednesday، 17 July 2019 - 01:16 PM

The Egyptian economy has achieved in 2018/2019 its highest growth rate in years, registering 5.6 percent, said the Finance Ministry on Wednesday.

The remark was made at a Cabinet weekly session under Prime Minister Mostafa Madbouli that reviewed the financial performance for fiscal year 2018/2019.

The ministry said that up to a six percent rate of growth is targeted in the coming fiscal year.

Minister of Finance Mohamed Maait indicated that the unemployment rate decreased to 8.9 percent in December 2018 and is targeted to reach 8.1 percent.

Also, he added, the budget achieved a surplus of two percent of the gross domestic product; which is the best result in more than 10 years.


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