The Egyptian Ministry of Finance announced that the government is working in two directions of great importance for the national economy, one of them is increasing its spending levels on the public investments to find more job opportunities, and the second is increasing spending on human development, especially the health and education sectors.
According to the ministry, Egypt achieved an initial surplus of 2 percent of GDP, and it is aiming at reducing the total deficit to 8.4 percent of GDP, reducing the unemployment rate to 9.6 percent, as well as the inflation and trade deficit, which in turn contributed to improving the classification Credit to Egypt by the global credit rating institutions.
According to the same source, the government continues to improve the economic situation by continuing to achieve high economic growth rates, where the government aims to achieve a growth rate of 6% during the fiscal year 2019-2020 and reduce the total deficit to 7.2%.
Egypt is determined to continue to improve its economy through structural reforms in various sectors of the economy and to reform the environment and climate of investment in Egypt, the ministry said.
Source: (Youm7 Website, Edited)
