Egypt GDP up 5.2% in Q1 of 2012

The Egyptian economy grew by 5.2 % in the first quarter of the 2012 Minister of Planning and International Cooperation Fayza Aboul Naga said on Monday. Al Ahram newspaper reported that Aboul Naga said she was "very optimistic", regarding the economy's performance. She said so on the cabinet's official Facebook page. Egypt's gross domestic product (GDP) had shrunk by 4.3% in the same period of 2011. Al Ahram also reported today that Aboul Naga announced, in a news conference here today, that Egypt has agreed to sell $500 million treasury bonds to Saudi Arabia. The deal, signed on Sunday, is part of a financial assistance package promised by Saudi Arabia to Egypt in 2011.