Cairo – Mubasher: Egypt aims to boost economic growth of 6.4% and slash budget deficit to 6.2% during fiscal year 2020/2021, the country’s finance minister Mohamed Maait said in a statement on Monday.
The North African nation also forecasts to cut public debt to represent 80% of the country’s gross domestic product (GDP) in the next fiscal year, Maait noted.
In October, the minister of planning Hala El-Saeed revealed that Egypt’s economy grew by 5.6% during the first quarter of FY19/20, up from 5.3% a year earlier.
In addition, the International Monetary Fund (IMF) expected the most populous Arab nation’s economic growth to stand at 5% at the end of 2019 and 6% in 2024.
