The Egyptian Prime Minister Mostafa Madbouly expected Egypt to achieve an annual growth rate of 8 percent by 2022.
Madbouly said at a meeting of Arab central banks governors, "the Egyptian government, under the guidance and support of His Excellency President Abdel Fattah El-Sisi, is working to gradually increase the economic growth to reach about 8 percent by 2022."
Madbouly revealed that the GDP grew by 5.6 percent in the fiscal year 2018-2019. Adding that except the oil industry, the Egyptian economy is finding it difficult to attract foreign investment since the 2011 uprising that ended Hosni Mubarak's 30-year rule.
Madbouly stressed that “the Egyptian government wants to modify the face of private investment to drive growth, which includes continuing efforts to improve the business environment, especially with regard to the program of procedures to establish and simplify companies and reduce costs, as well as the expansion of the establishment of new investment areas.”
Source (Alarabiya.net, Edited)
