Cairo – Mubasher: Egypt aims to achieve a gross domestic product (GDP) growth of 6% in fiscal year 2019/2020, official data showed on Monday.
The government seeks to increase allocations supporting the country’s economy and productivity to boost growth rates and provide an adequate number of jobs, according to the preliminary financial statement on the general budget draft for FY19/20.
This move will be done by bolstering the industrial sector and exports, as well as encouraging consumption and private investment, the statement added.
Egypt plans to raise GDP growth to 5.8% in FY18/19, versus a GDP growth of 5.3% in the prior fiscal year.
In January, finance minister Mohamed Maait stated that Egypt was targeting GDP growth of 6% in FY19/20.
