World Economy

Egypt Economy Improving

Egypt Economy ImprovingEgypt Economy Improving

Egypt’s economy grew by 5.6% in the first half of the 2014/15 fiscal year compared with 1.2% in the same period last year, Youm7 reports citing a minister. The country’s economy grew by 4.3% in the second quarter of the 2014/15 fiscal year compared with 1.4 for the same period of 2013/14, Planning Minister Ashraf al-Araby said in a statement. Egypt’s economic growth did not surpass 2% in the past three years before jumping to 3.7% in the final quarter of 2013/14. According to the minister, the improvement in economic growth is a culmination of a set of measures the government has taken to spur growth.