The Egyptian Prime Minister Mostafa Madbouly expected the Egyptian economy to grow by 6 percent next year, pointing out that Egypt was on its way to an economic disaster banned by the economic reforms adopted by the government during the past few years.
The Egyptian government has initiated reform measures over the last three years, including liberalizing the Egyptian pound exchange rate, raising fuel and interest rates and implementing of legislative reforms to attract the foreign investment.
Madbouly said in an interview published in the Washington Post that "the international reports indicate that Egypt is among the five most developed countries in the world," considering that "the government has succeeded in its plan, which is evidenced by the data on the decline in the unemployment rate to 8.9 Percent from 14 percent, and the foreign exchange reserves increased to more than $ 44 billion."
He added: "the government is targeting a growth rate of 5.6 percent this year to reach 6 percent next year, which would be a remarkable achievement for the government".
Source: (Al-Ittihad newspaper – UAE, Edited)
