Egypt: Govt Hit the Target from Economic Reforms - PMSource: www.export-egypt.com 7/17/2019, Location: Africa |
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Prime Minister Mostafa Madbouli stressed that the government hit the target from the economic reforms it carried out to push forward the national economy.
For the first time in years, the government managed to achieve a two-percent surplus of the gross domestic product (GDP) thanks to these economic reforms and tireless efforts by all members of the current government, Madbouli said during a weekly cabinet meeting. The meeting expounded financial indicators during 2018/2019 fiscal year. The budget deficit was estimated at 8.4 percent during the 2018/2019 fiscal year but the government managed to lower it to 8.2 percent, he said. A 5.7-percent growth rate was achieved while unemployment and poverty rates declined, he pointed out. Bringing soaring prices under control and ensuring the availability of goods in the local market testify to the government's success in carrying out economic reforms, he said. |
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