Demonstrations brought growth rate down, says Abouelnaga

Planning and International Cooperation Minister Fayza Abouelnaga has said that instability and the mounting labor demonstrations represented a huge challenge for the government and led to a decline in the economic growth rate to 4.2 percent.

She added that the government made great efforts to overcome this problem and developed a pilot plan for economic and social development for the next ten years based on the large potential of the Egyptian economy, “although it is only an interim government.”

“The plan concentrates on promising areas like Port Said, Sinai and the New Valley, expanding agriculture and developing human resources,” she said. “It also fights poverty, a main cause of the revolution.”

“It also aims to double national income in ten years,” she pointed out.

Edited translation from MENA

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