Minister: Egypt is recovering from recession
Egypt has started recovering from the recession, said Egyptian Minister of Planning, Osman Mohamed Osman at a recent press conference. He said the Arab state recorded a real Gross Domestic Product (GDP) growth rate of 4.4 percent in the first half of fiscal year 2003-2004 compared to three percent during the same period in the previous year.
According to the IMF, Egypt needs to achieve a six percent GDP growth in order to be able to create the 600,000 jobs a year to accommodate new job seekers and the unemployed among its 70 million-strong population. — (menareport.com)
© 2004 Mena Report (www.menareport.com)