Cairo – Mubasher: Egypt’s gross domestic product (GDP) growth is expected to increase by 5.3% to 5.4% during the third quarter of fiscal year 2017/2018, Reuters reported, citing finance minister Amr El-Garhy.
The government targets an economic growth of 5.8% in the FY 2018/2019, compared to an expected growth of 5.2% during the current fiscal year.
In February 2018, the Egyptian planning ministry said that the North African nation's economic growth hit 5.3% in the second quarter of fiscal year 2017/2018.
The planning ministry previously noted that Egypt is aiming for GDP growth of 7% by 2021.
PricewaterhouseCoopers expected that Egyptian economy will rank 15th internationally in the list of the largest 20 economies by 2050.
The International Monetary Fund (IMF) forecast that Egypt’s economic growth to reach 4.8% in FY 2017/2018 to hit 6% on the medium-term.
