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Home arrow Business arrow Egypt targets 10 Pct economic growth by 2012
Egypt targets 10 Pct economic growth by 2012 PDF Print E-mail
Written by Egypt News   
Tuesday, 20 October 2009
Egypt Economic Development Minister Osman Mohamed Osman
Osman Mohamed Osman
Egypt Economic Development Minister
Egypt's Economic Development Ministry is seeking to shore up the country's economic growth to 10 percent by 2012, citing signs of recovery from the global financial crisis

Spokesman at the Ministry quoted Minister, Osman Mohamed Osman saying that economic growth rates is expected to rise to 10 percent by 2012, in line with the government's plan for 2020 targeting gradual industrial and technological development.

Egypt reported growth above 7 percent before being hit by the global slump. The economy's expansion has since slowed to 4.7 percent in the fiscal year 2008/9.

Earlier, Egyptian Finance Minister Youssef Boutros-Ghali said that Egypt's economic growth was expected to reach 5 percent in 2010. He noted that the country has been hit by a decline in tourism earnings, Suez Canal revenue and foreign investment amidst the global economic downturn.

 

 

 

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