Cairo – Mubasher: Egypt’s real gross domestic product (GDP) growth rate recorded 5.3% in the first quarter of the fiscal year 2018/2019, Almal news reported, citing a top official as saying.
GDP growth was driven by oil and gas, telecommunications, and construction in addition to Suez Canal revenues.
Almost all of the country’s economic sectors achieved positive economic growth, while the unemployment rate declined to 9.9% from 13.5% in the past period, the unnamed official told Almal news.
The Egyptian government is targeting GDP growth of 5.5% for the current fiscal year.
