-The final approval on the country’s economic and social development plan for fiscal year (FY) 2024/2025 was issued by the House of Representatives.
-The government also is aiming at lowering the inflation rate to 19-25%.
-Egypt’s gross domestic product (GDP) at current prices is expected to grow to EGP 17.3 trillion under the FY 2024/2025’s plan.
Egypt is targeting $30 billion in foreign direct investment in the 2024/25 fiscal year starting July 1, a budget statement approved by parliament showed.
The government also is aiming at lowering the inflation rate to 19-25%.
Egypt also aims to contain its inflation rate to 19-25% in 2024/25, the statement showed.
The final approval on the country’s economic and social development plan for fiscal year (FY) 2024/2025 was issued by the House of Representatives.
Minister of Planning Hala Elsaid said that Egypt’s gross domestic product (GDP) at current prices is expected to grow to EGP 17.3 trillion under the FY 2024/2025’s economic and social development plan, from the expected EGP 13.9 trillion in the current FY.
The country is also seeking a real economic growth rate of 4.2% in FY 2024/2025, compared to the expected rate of 2.9% in the current FY, the minister said.
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