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Egypt Gov't won't achieve expected GDP growth
(MENAFN) The Egyptian government is unlikely to receive its financial year 2015-2016 GDP target of 4.0 percent to 4.25 percent, despite public driven investments.
Moreover, the economic company of the country estimated the FY 2015/2016 growth rate to be 3.6 percent, while the GDP growth for 2016/2017 will be 4.1.
However, it was expected that the GDP growth rate is lower than the 4.2 percent GDP growth registered during the past financial year.
"In the past month, foreign currency shortages have taken a turn for the worse, with the burden being shared by the non-oil private sector," stated the report.
Moreover, the economic company of the country estimated the FY 2015/2016 growth rate to be 3.6 percent, while the GDP growth for 2016/2017 will be 4.1.
However, it was expected that the GDP growth rate is lower than the 4.2 percent GDP growth registered during the past financial year.
"In the past month, foreign currency shortages have taken a turn for the worse, with the burden being shared by the non-oil private sector," stated the report.
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