Arab Finance: Egypt has trimmed its investment plan for the current fiscal year of (FY) 2023/2024 by 15%, which represents EGP 45 billion, Minister of Planning and Economic Development Hala Elsaid told Al Arabiya Business.
She noted that the country signed a $1.5 billion agreement with the International Finance Institution (IFC) for the petroleum sector and subsidized commodities.
Furthermore, the minister said that the country targets achieving an economic growth of 3% in FY 2023/2024.
The state also sims to achieve economic growth of 4.2% in FY 2024/2025, to rise later to 4.8%, she added.