Cairo – Mubasher: Egypt's Ministry of Finance stated that it targets achieving an economic growth rate between 4% and 5% during the fiscal year of 2017-2018 and to increase it to 6% on the medium term.
Egypt is on track in implementing a number of structural reforms to support the productive sectors, especially the industry, export and investment attracting activities, the ministry added in a publication on Sunday.
The gross domestic product (GDP) of Egypt reached 4.3% during FY 2015-2016, against 4.4% during the previous year.
The Ministry of Finance, Amr Al Garhy, aims that the economic growth rate would increase to 7% after the approval on the International Monetary Fund's (IMF) loan.
The Egyptian government intends to decrease the budget deficit to between 8.5% and 9.5%, besides reducing the rates of the government debt rates to around 92% - 94% by the end of FY 2017-2018.
