Official: Egypt Government Plans to Bring up Growth Rates to 3.5%

Egyptian Minister of Planning Ashraf el-Araby said the government is planning to pump additional 24.5 billion pounds, constituting more than one per cent of the Gross Domestic Product (GDP) of the current fiscal year with the aim of invigorating the national economy and pushing forward the production process.

This is meant to bring back economic growth rates to 3.5 per cent, compared to two per cent annually in average over the past three years, with the final goal of improving the citizen’s living conditions and the level of the available public services, the Minister added.