Egyptian investment minister expects growth rate to hit 4%
Investment Minister Ashraf Salman
Beirut - MENA
Investment Minister Ashraf Salman said on Friday that the government will impose a 10-percent tax on industrial, logistics and tourist companies working in the Suez Canal Corridor Development project.
During the Egyptian-Lebanese Business Forum, now held in Beirut, Salman said that the taxes will increase in the first three years to 30% and then decrease to 25% for seven years.
Salman expected the Egyptian growth rate to record 4 percent by the end of the current fiscal year.
"Egypt's economy is one of a few economies that achieve such growth rates," he concluded.
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