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Egypt's Budget Deficit Main Obstacle Against Growth, Minister of Planning Says  Join our daily free Newsletter

MENAFN - Qatar News Agency - 10/02/2014
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(MENAFN - #Qatar News Agency) Egyptian Minister of Planning and International Cooperation Dr. Ashraf El Araby said Sunday that the budget deficit is the main reason behind the decrease in economic growth.



He told Egyptian Al Qahera Wal Nas TV channel, Cairo and the People, today that the plan is for the budget to reach 10% of the GDP by June 30 201



One worrying trend that the Minister pointed to during th interview was the increase in unemployment rate after the January 25 revolutio




According to El Araby, the current unemployment rate is 12.5



On future plans, the Minister revealed that they plan to increase Egypt's populated area from 7% of the land to 15% in the next 10 year



He stressed that #Egypt must follow through with their plans if they are to attract more foreign investments.

 
 


Qatar News Agency




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