Cairo – Mubasher: The government has not estimated the US dollar exchange rate for the fiscal year 2018/2019 budget, finance minister Amr El-Garhy said in an interview to CBC’s Hona Al‘asema.
The minister refused to confirm Reuters’ recent report, which claimed that the North African nation has set an exchange rate of EGP 17.5 per US dollar in the next fiscal year, which begins on 1 July.
The House of Representatives will discuss the new draft budget before the end of this month once it is approved by the Cabinet and President Abdel-Fattah El-Sisi, El-Garhy added.
He forecast Egypt’s economic growth to range between 5.35% and 5.5%, rising to around 6% by the next year.
