Economic indicators gradually improve as result of reform program
Economic indicators gradually improve as result of reform program
Cairo - Mena
The cabinet's Information and Decision Support Center (IDSC) said Friday several economic indicators have shown gradual improvement as a result of a reform program launched by the Egyptian government.
In a video launched on IDSC's official Facebook page, the center said that the economic growth rate reached 4.9 percent during the fourth quarter of the 2016-2017 fiscal year.
The foreign investment has jumped to 6.6 billion dollars from June 2016 to March 2017, the video added.
The foreign exchange reserves increased to 36 billion dollars, hitting its best record since 2011, the IDSC said.
The Balance of Payments (BOP) achieved an overall surplus of 11 billion dollars, it added.
The reform program aims to reduce the unemployment rates to 6.7 percent in 2020-2021, the inflation rate to 7 percent, the public debt to 78.3 percent, as well as increasing the economic growth to 6 percent, investment rate to 19.6 percent, and the exports volume to $60.2 billion, it said.
Source: Mena
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