World Economy

Egypt GDP Grows 3.7%

Egypt GDP Grows 3.7%Egypt GDP Grows 3.7%

Egypt’s GDP growth rate rose in the fourth quarter of fiscal 2013/14 to 3.7%, up from 2.5%, the government said, in the latest sign that confidence is returning to an economy battered by three years of political turmoil, TradeArabia reported. However, the full-year growth rate was barely changed. Egypt posted GDP growth of 2.2% for the full 2013/14 fiscal year, which ended in June. This was up slightly from 2.1% the previous year, but remains far slower than the pace needed to create enough jobs for a youthful population of 86 million.