Cairo-Mubasher: Egypt’s gross domestic product (GDP) witnessed a 4.5% growth in the first half of the fiscal year 2015/16, compared to 5.8% in the prior-year period, according to a monthly report issued by the Ministry of Finance.
The GDP stood at EGP 1.4 trillion in the first six months of FY15/16, compared to EGP 1.3 trillion in the same period a year earlier.
Egypt’s public debt is expected to reach EGP 2.7 trillion and represent 98% of the GDP by the end of FY15/16, Minister of Finance Amr El Garhy said, adding that the Ministery plans to decrease the debt to 85% of the GDP within three years.
