WB Expects Egypt’s GDP Growth Rate to up to 3.5%Source: www.export-egypt.com 2/12/2014, Location: Africa |
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The World Bank (WB) expected the increase of the growth rate of Egypt's gross domestic product (GDP) to 3.5 percent by the end of the current Fiscal Year (FY) to end in June of 2014.
The WB quarter economic bulletin for the Middle East and North Africa, that covers the period from July to September of 2013, attributed the increase to the government's announcement of two economic packages worth 8.7 billion dollars. The first 4.3-billion-dollar package was announced in August while the second was released this month. The packages aim at promoting economic activities on the short term through pumping more investments and lowering the budget deficit from 13.7% to 9.1 percent, according to the bulletin. The packages are part of a long-term development plan that seeks a sustainable growth via investments in education, health care and technology. |
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