Mubasher: The Egyptian government aims to raise economic growth rate to 6% in 2018, according to the vice minister of finance for treasury affairs, Mohamed Maait.
Maait noted in his interview with Al Ahram newspaper that the government is also working to attract more foreign investments, around $12 billion.
The vice minister also indicated that inflation waves cooled down, expecting inflation rate to go below 20% soon.
In 2017, unemployment went down from 11.9% to 11%, supported by the rise in economic growth, which reached 5.2% by the end of last year, he added.
The rise in oil prices to $65 per barrel has led to a rise in subsidiary costs, as the budget estimated prices near $55 per barrel, however, the government will continue to adopt social policies that limit the effects of the economic reforms, to support low income families, said Maai, explaining that an increase in oil prices by $1 a barrel equals a rise in the budget deficit by EGP 4 billion.
