World Economy

Egypt’s Best Economic Year

Egypt’s Best Economic YearEgypt’s Best Economic Year

The Cairo Centre for Economic and Strategic Studies has called 2014 Egypt’s best economic year since 25 January 2011 in its annual economic report.  The report added that 2014 can be labeled as the “beginning of stability and economic growth,” Albawaba reported. The current Egyptian government is seeking to reduce the budget deficit to 10% of the gross domestic product (GDP) during the fiscal year (FY) 2014/2015, compared to 12% during FY 2013/2014. The government is also aiming to reduce the debt to 90% of the GDP in FY 2014/2015 and reducing it to 80%-85% of GDP in FY 2016/2017.