World Economy

Egypt GDP Down

Egypt GDP DownEgypt GDP Down

Egypt’s economy grew 4.5% in first half of 2015/2016 fiscal year, down from 5.5% growth in the previous year, the country’s planning minister said on Saturday, Reuters reported. Total GDP for first half of fiscal year 2015/2016 was 1.4 trillion Egyptian pounds ($158 billion) in the first half compared with 1.275 trillion pounds in the same period last year, the minister said. Second quarter growth for 2015/2016 was 3.8% from 4.3% a year earlier, planning minister, Ashraf al-Arabi, told a press conference.