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Egypt targets 4%-5.8% growth in 3 years

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Staff writer ▼ | July 4, 2014
Hani QadriFinance Minister Hani Qadri announced that the government targets the achievement of an economic growth rate ranging between 4%-5.8% in the coming three years with maintaining the deficit rate at 10%.

Minister Qadri asserted that the national economy would witness a boom within the coming three years' time. He added that the economic growth in Egypt does not cope with the level required for facing the ballooning unemployment.

On the other hand, customs revenues in the FY 2014-2015 are expected to hit LE20.694 billion with a growth rate of 20% and a decline ratio of 4% over the previous year, the finance ministry announced on Wednesday 2/7/2014.

The financial statement of Egypt's draft general budget said that the revenues were sharply affected by the deteriorating economic situation and pressures on foreign exchange markets.

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