Egypt's GDP Reaches Its Highest in 10 Years

Published July 26th, 2018 - 09:39 GMT
The country’s budget deficit had fallen below 10 per cent for the first time since 2011. (Shutterstock)
The country’s budget deficit had fallen below 10 per cent for the first time since 2011. (Shutterstock)

Hala al-Saeed, Planning Minister, said that this is a further sign of recovery amid tough reforms which were introduced as part of $12 billion IMF loan agreement.

The country’s budget deficit had fallen below 10 per cent for the first time since 2011, added Mohamed Maait, the Finance Minister. Non-oil exports grew by 12.3 per cent in the same period under review.

However, the purchasing manager’s index survey from Emirates NBD said that despite a slight improvement in June, Egypt’s non-oil private-sector business activity has been in contraction for months associated with reductions in output.

Read More

Egypt Leads in Attracting Foreign Investments Across Africa
Egypt Mobile Market Loses Around 1.5 Million Subscribers in April

By Kudakwashe


© 2022 CPI Financial. All rights reserved.

You may also like