Cairo - Mubasher: The Egyptian economy has achieved its best quarterly growth rate in eight years during the third and fourth quarters of fiscal year 2017/2018 at 5.4%, according to the minister of planning and administrative reform.
Minister Hala El-Said added that for the entire FY17/18 growth rate was the best in ten years at 5.3%.
Investments and net exports were the main drives for growth, accounting for 74% of the growth, the minister noted, adding that sectors such as building and construction, telecom, mining, and the Suez.
The purchasing managers index (PMI) neared 50 points last year, which reflects the improving business environment, El-Said explained.
Investments totalled $747 billion, growing by 41%, while the balance of payments achieved an $11 billion surplus in the first nine months of FY17/18.
