Egypt aims for 5-per­cent growth next year

Business monthly (Egypt) - - VIEWPOINT -

The coun­try's 2017/18 bud­get will tar­get a 5-per­cent growth rate, a deficit-to-GDP ra­tio of 9.5 per­cent and to­tal pub­lic debt equiv­a­lent to 94 per­cent of GDP. The fi­nance min­istry is also aim­ing for an un­em­ploy­ment rate of 11 per­cent, down from 12.6 per­cent, re­ported state-owned Ahram On­line. The min­istry said this growth rate will be achieved through poli­cies that sup­port pro­duc­tive sec­tors like in­dus­try as well as pro­grams to boost ex­ports and at­tract in­vest­ments. The govern­ment will also con­tinue to em­pha­size na­tional megapro­jects. While the govern­ment will ra­tio­nal­ize spend­ing, it prom­ises to boost so­cial sup­port pro­grams for low-in­come cit­i­zens, while im­prov­ing health care, ed­u­ca­tion and in­fra­struc­ture. Egypt also tar­geted 5-per­cent growth for the cur­rent fis­cal year, while economists sur­veyed by Reuters in Oc­to­ber pro­ject a num­ber closer to 3.5 per­cent.

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