21844
Egypt Eyes GDP Growth
World Economy

Egypt Eyes GDP Growth

Investment Minister Ashraf Salman said that Egypt is targeting a GDP growth rate of 4.5-4.7% in the first quarter of 2015-2016, Albawaba reported. Egypt also aims to attract $2 billion in foreign direct investments in 1Q15/16, Salman added. The government estimates the economy will have grown 4.3% in Fiscal Year 2014/15, with $7.5 billion in FDI, up from $4.1 billion a year earlier, the minister said. A ministry of planning report stated that economic growth slowed to 3% year-over-year in 1Q2015 (3Q2014/15), without giving further details. Growth rates had slowed down from 4.3% and 6.8% in the two preceding quarters, respectively. “We expect GDP growth to remain unchanged in FY2015/16 at 4.5%, as accelerating investment growth is offset by decelerating consumption,” Mohamed Abu Basha, an economist at EFG-Hermes, wrote in the research note. “Investment growth is likely to pick up more towards the second half of the fiscal year, as more infrastructure projects enter the execution phase,” he added.

 

Short URL : http://goo.gl/9aZkV3

You can also read ...

China Challenges US Solar Panel Duties
China says it is challenging a US tariff hike on solar panels...
In a retaliatory move, President Recep Tayyip Erdogan’s government on Wednesday announced higher tariffs on some US imports, namely on passenger cars (120%) and leaf tobacco (60%).
Turkey has raised tariffs on some US imports, including...
World trade volume growth peaked in January at almost 5.7% year-on-year but nearly halved to less than 3% by May.
Cyclical indicators point to slower and more uneven growth in...
Surging Inflation Mars Philippines Growth
The Philippine economy in 2018 is a story that can be summed...
File picture of Kim Jong-un (L) and Moon Jae-in at the truce village  of Panmunjom, South Korea.
South Korea President Moon Jae-in on Wednesday offered a bold...
Nigeria CPI Drops to 11.14 Percent
Nigeria’s National Bureau of Statistics says the consumer...
Moody’s Predicts Slower Fiscal Progress in S. Africa
South Africa’s fiscal consolidation will be slower than the...
Transport tickets and fuel have driven up costs for consumers.
Inflation in the UK climbed in the month of the July, as had...

Trending

Googleplus