Cairo - Mubasher: Franklin Templeton Investments expects Egypt to raise $10 billion within three to five years through the privatisation programme, according to a recent report.
For Egypt, improving US dollar and natural gas availability is expected to improve subdued returns on equity (RoE) of the industrial sector, the report noted, adding that with the improving balance of payment, the Egyptian pound's flotation, and the new investment law, Egypt is set to attract capital flows and revive job growth.
The investment company also expects the Egyptian economy to achieve a GDP growth rate of 4% for fiscal year 2016/2017 compared to 3.8% in the year before.
The forecasted growth rate is supported by years of under-investment and an ever-expanding population, the report indicated.
The report also expects the value-added tax (VAT) implementation to increase the Egyptian state's revenues by 2.5% of the GDP in three years, reaching 14.7% by FY18/19.
