Egypt News

Minister Osman Mohamed Osman

The current average annual per capita income stands at US$3000.

"The continuing increase in personal savings indicates that there is sufficient liquidity to carry out projects and encourage investments," said Osman.

Osman said that "Egypt's government is planning to reach a rate of growth of between seven and eight percent by 2016/2017"

Osman added that "The private sector will play the main role in achieving this target"

He said that "To achieve this target, it would be necessary to increase investments to around LE500 billion by 2016/2017, compared to LE96 billion at present"

"The private sector and the government will need to double the number of factories, open up new markets and facilitate financing and government procedures," said Osman.

Egypt's minister said "There is a need for skilled labor and energy," adding that "There is a need to keep the budget deficit at five percent and to manage currency exchange prices and interest rates"

EGYPT NEWS

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