Egypt's GDP to register 4% in FY 2016/17: Minister

CAIRO – 23 July 2017: Egypt's Gross Domestic Product (GDP) is projected to reach 4 percent for the fiscal year 2016/17, despite steps taken in the economic reform program, Minister of Planning Hala al-Saeed said Sunday.

Saeed noted earlier that the economic indicators for the first nine months of FY 2016/17 were positive, as the growth rate recorded 4.3 percent, compared to 3.6 percent in the same quarter of 2015/2016 fiscal year.

The initial budget deficit in the FY 2016/17 ranges between 10.4 and 10.5 percent of the GDP, compared to 12.5 percent in the FY 2015/16, the minister said.