Minister of Planning Hala Al-Saeed announced, at a Wednesday press conference, that Egypt’s gross domestic product (GDP) growth registered 5.2% in the first quarter (Q1) of fiscal year (FY) 2017/18.
Al-Saeed explained that GDP is on a growth path due to the fact that an approximately 3% increase in investment inflows was achieved during the same period. She added that some sectors have achieved 70% growth, such as the wholesale, agriculture, real estate, construction, and manufacturing industries.
Earlier in August, Finance Minister Amr El-Garhy said in an interview on an Egyptian television station that he expected GDP to grow by 4.6-4.8% in FY 2017/18.
Al-Saeed also estimated an increase in export revenues of $22.5bn by the end of the current FY and increasing to $30bn by the end of FY 2019/20, compared to $20.5bn at the end of FY 2016/17.
