Cairo – Mubasher: Egypt is looking to achieve a gross domestic product (GDP) of EGP 6.163 trillion in fiscal year 2019/2020, versus an expected GDP of EGP 5.256 trillion this year, government data showed on Monday.
The FY19/20 state budget targets a GDP growth of 6%, versus an estimated GDP growth of 5.6% in FY18/19, according to the preliminary financial statement on the general budget draft for FY19/20.
The Egyptian government aims to create new jobs in a bid to cover annual newcomers to the labour market, the statement said.
The most populous Arab state also plans to constantly slash unemployment rates to reach an average between 7% and 8%, the statement added.
