We noticed you're blocking ads.

Keep supporting great journalism by turning off your ad blocker.

Questions about why you are seeing this? Contact us

Font Size

- Aa +

Sun 14 Apr 2013 09:58 PM

Font Size

- Aa +

Egypt minister cuts GDP growth rate forecast to 2.5%

State news agency cuts economic forecast for second time this year

Egypt minister cuts GDP growth rate forecast to 2.5%

Egypt expects its economy to grow by 2.5 percent in the fiscal year ending in June, its planning minister said in remarks run by state news agency MENA on Sunday, cutting the forecast for a second time this year.

In February, Ashraf El-Araby said gross domestic product growth would be 3 percent because a previously forecast 4 percent was no longer reachable due to "current politial events".

On Sunday, MENA quoted the minister as saying GDP growth would be 2.5 percent in the 2012/2013 fiscal year, up from a current growth rate of 2.4 percent.

Arabian Business: why we're going behind a paywall

Real news, real analysis and real insight have real value – especially at a time like this. Unlimited access ArabianBusiness.com can be unlocked for as little as $4.75 per month. Click here for more details.