Finance minister: Egypt set to be a leading economy

Finance Minister Samir Radwan said on Thursday that the International Monetary Fund has confirmed that the Egyptian economy will be among the world’s most promising economies in the next five years, provided it survives its current setback.

Speaking to the Arab-British Chamber of Commerce, Radwan said that many Arab investors intend to start projects in Egypt, pointing to a project by the Prince of Qatar to build the world’s largest seaport west of Alexandria.

The minister explained that the labor protests were the main reason for the budget deficit, which is approaching a ratio of 9 percent of GDP.

He urged Egyptian businessmen to invest in different projects so as to encourage their foreign counterparts to enter into partnerships with

Translated from the Arabic Edition

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