CAIRO, May 14, 2018 (MENA) - Egypt's gross domestic product (GDP) is expected to reach LE5.250 trillion in the fiscal year (FY) 2018/19, up from LE4.106 trillion this fiscal year, which will end on June 30. The Finance Ministry has said in a statement it targets a 5.8 per cent increase in GDP in the fiscal year 2018/19. The estimated growth rate for this fiscal year is 5.2 per cent, the statement said. The government is working with the Central Bank of Egypt to reduce inflation rates to less than 10 per cent by the fiscal year 2019/20, it said. The government is also seeking to decrease the public debt to make up 91-92 per cent of the country's GDP, it added.
