General

Egypt targets GDP growth of 5.6% in 2019

The Egyptian government says it is targeting gross domestic product (GDP) growth of 5.6 per cent in the fiscal year ending June 2019.

The country’s Finance Minister, Mohamed Maait who stated this in Cairo on Tuesday said that the growth would be slightly lower than its previous target of 5.8 percent.

He disclosed that the government would target GDP growth of 6 per cent in the 2019-2020 financial year.

The country’s GDP grew at an annual rate of 5.5 per cent in the period from October to December 2018.

Maait also said that growth in the third and fourth quarters was expected to be higher.

Source: Voice of Nigeria