Egypt GDP growth for fiscal 2017/18 revised up to 5.3-5.5%: Min.

CAIRO - 13 January 2018: Egypt has revised its GDP forecast for the 2017-18 fiscal year beginning in July up to 5.3-5.5 percent, from 4.8 percent previously, Planning Minister Hala al-Saeed said on Saturday.

Saeed said the economy is expected to have grown 5.2-5.3 percent during the second quarter of the current fiscal year, which ended in December. The economy is expected to grow by 6 percent in the next fiscal year, she added.

Egypt’s economy has struggled since a 2011 uprising drove tourists and foreign investors away, two main sources of hard currency, but the government hopes that IMF-backed reforms it has embarked on over the past year will put it back on track.