Cairo – Mubasher: The Egyptian Ministry of Finance (MoF) is looking to raise economic growth rate to 6.5% in fiscal year 2019/2020, versus 5.3% in the prior fiscal year, the finance minister said on Thursday.
Egypt is targeting a gross domestic product (GDP) of EGP 6.214 trillion in FY19/10, Mohamed Maait added in a statement.
The ministry aims to achieve a primary surplus of 2% before excluding debt interests in the next fiscal year, which will cut the general budget deficit to 7% and ease inflation rate to 10.9% year-on-year, Maait noted.
The MoF previously announced it seeks to reduce the country’s budget deficit to EGP 427.8 billion in FY19/20.
