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Egypt targets 4.2% growth for the next fiscal year: Minister

Egypt aims to reach a growth rate of 4.2 percent for the fiscal year 2024-2025, up from three percent for the current year – even amidst global economic and geopolitical crises – Minister of Planning and Economic Development Hala al-Saeed announced.

During a speech on the sidelines of the annual meetings to discuss the 2024 economic and social development plan, on Sunday in Cairo, Saeed added that the communications sector is expected to grow by 16 percent and tourism by 45 percent in the next fiscal year.

The total investments targeted in the 2024-2025 plan amounts to two trillion LE, she said, and will focus on the health and education sectors as a priority, alongside stimulating the role of the private sector.

Egypt’s target for the growth of its economy in the next fiscal year exceeds the expectations of the World Bank, which estimates that growth will reach 3.9 percent, but falls below the expectations of the International Monetary Fund which estimates that the Egyptian economy will grow by 4.7 percent in 2024-2025.

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