Masress : Egypt GDP figures not out yet: Ministry of Planning

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Egypt GDP figures not out yet: Ministry of Planning
Ministry tells Ahram Online that no official figures have yet been released, despite reports of solid 2012 first quarter growth

Ahram Online Published in Ahram Online on 21 - 05 - 2012

Official economy growth figures for Egypt have not yet been published, despite news reports suggesting otherwise, the media coordinator at the Ministry of Planning told Ahram Online on Monday.
Fayza Abul-Naga, Egypt's planning minister, was quoted by Reuters on Monday as saying that Egypt's economy grew by 5.2 per cent in the first quarter of the 2012 calendar year.
"We are yet to announce the figures," Magdy Youssef, the ministry's media coordinator said.
Other informed source in the ministry, however, told Ahram Online that the figures have already been aggregated and they are "on the minister's desk awaiting approval".
Egypt's economy was battered in the aftermath of 2011's popular uprising, as tourism and foreign investment took significant hits.
Egypt's Gross Domestic Product (GDP) is forecast to grow by 1.5 per cent in 2012, a slight increase drop from 1.8 per cent in 2012, the World Economic Outlook report published by the International Monetary Fund estimated last month.

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