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Egypt economy grew by 2.2 pct in 2011/12: Planning minister Government announces solid economic improvement, predicts 4 pct growth by end of current fiscal year
Egypt economy grew by 2.2 per cent in the 2011/12 financial year that ended 30 June, the country's minister of planning and international cooperation told reporters on Wednesday. This is a slight improvement over the 1.8 per cent growth the economy recorded in 2010/11. In the fourth quarter of the financial year -- April-June 2012 -- the economy saw annual growth of 3.3 per cent. Minister Ashraf El-Araby said he expects a 4 per cent growth rate for the current financial year, and 5 per cent in 2014/15. He also said that the unemployment rate grew to 12.6 per cent in 2011/12, up from 11.8 in the previous financial year. More details to follow shortly
