May 2, 2019 / 10:58 AM / 23 days ago

Egypt targets 8 pct growth by fiscal year 2021-22 - PM

BEIRUT, May 2 (Reuters) - Egypt targets economic growth of 8 percent in the 2021-2022 fiscal year, Prime Minister Mostafa Madbouly said on Thursday.

“The government aims to increase economic growth rates gradually from 5.5 percent this year to 8 percent by the year 2021-2022,” he told an economic conference in Beirut.

Egypt’s economy grew 5.3 percent in the 2017-18 fiscal year, the highest rate in 10 years. Its financial year runs from July to June. (Reporting by Ellen Francis/Tom Perry in Beirut and Ahmed Tolba in Cairo Editing by Gareth Jones)

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