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Government targets up to 3.8% growth rate: Official

Government targets up to 3.8% growth rate: Official

ArabFinance: The Egyptian government raised its estimates for the economic growth to range from 3.5% to 3.8% during fiscal year (FY) 2020/2021, Al Borsaa News cited deputy planning minister Ahmed Kamaly on November 21st.

The official commented on the unemployment rate, saying that the registered 7%-8% “is good”, the news portal added.

Kamaly noted that Egypt’s external debt to gross domestic product ratio is currently at “safe levels,” according to Al Borsaa.

Earlier this year, the government amended the target economic growth for the current FY to 3.5%.

Meanwhile during a Cabinet meeting last September, the planning minister Hala el Said noted that the local economy grew 3.5% in FY 2019/2020.

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