 |
| A man counts Egyptian pounds at currency exchange shop in downtown Cairo, Nov. 3, 2016. KHALED DESOUKI/AFP/Getty |
Egypt expects its economy to grow by an annual rate of 8% by 2022 as the government improves the investment climate, Prime Minister Mostafa Madbouly said on Sunday.
โThe Egyptian government expects growth to gradually pick up to 8 percent by 2022,โ he told a meeting of Arab central bank governors.
In July, Madbouly said gross domestic product (GDP) grew 5.6% in the 2018/19 fiscal year.
Barring the oil industry, Egyptโs economy has struggled to attract foreign investors since the 2011 uprising that ended Hosni Mubarakโs 30-year rule.
Madbouli told the central bank governors that the government wanted to โalter the face of private investment to spur growth.โ
This includes โcontinued efforts to improve the business climate, especially by simplifying and lowering the cost of -forming companies and expanding new investment zones,โ he said.
