Cairo – Mubasher: The Egyptian Exchange (EGX) said it targets economic growth rate of 5% in the fiscal year 2017 – 2018, while cutting the unemployment rate to 11%, said Minister of Finance Amr El-Garhy.
“The ministry has finished off the draft of the estimated budget for the fiscal year 2017 – 2018 and prepares to present it to the parliament to approve it,” added El-Garhy.
The government will also work on completing the value added tax law in addition to formulating the law of Tax Disputes Settlements through the upcoming fiscal year, noted El-Garhy.
Egypt seeks to curb the budget deficit to reach 9.5% in FY16/17 compared with 12.2% in FY17/18 in addition to reducing the country’s public debt.
