Egypt Independent

Egypt GDP growth for Q1 2015-2016 likely below 5%: planning minister

Egypt's planning minister said on Tuesday that he expects GDP growth for the first fiscal quarter of 2015-2016 to be less than 5 percent, and that the government would look to push the budget deficit below 10 percent within the next two fiscal years.
Egypt will also establish a company with capital of LE8 billion by the end of December to reclaim 1.5 million feddans (1.56 million acres) of desert, the minister said in an interview with Reuters.