Egypt to raise public sector firms’ profits to $1.16bn in 3yrs: minister

Egypt plans to increase public sector firms’ profits to 20 billion Egyptian pounds ($1.16 billion) between two years and three years, Egyptian Minister of Public Business Sector Hisham Tawfik said on Monday.

During the financial year 2017/2018, profits jumped 50.7 percent to 11.3 billion pounds, Tawfik said during his participation in an economic conference organised by Hapi Journal in Cairo.