Egypt economy to grow 5.5 percent in 2015-16

Egypt’s Finance Ministry Hany Kadry Dimian said that it expects that the country’s economic growth will accelerate be between 5 and 5.5 percent during the next fiscal year, which ends in June 2016, adding that the country’s economic growth for the current year is projected at higher than 4 percent.

The Ministry attributed these positive predictions to a rebound in manufacturing, upward revisions by ratings agencies such as Fitch as well as the sharp drop in the value Egypt’s debt, adding that their main focus is regain investors’ confidence in the country’s economy so that they would increase their investments.