Monday, 29 November 2021 09:37 GMT

Egypt sees 5.3 percent economic growth in 2017 Q4


(MENAFN) Egyptian central bank governor Tarek Amer revealed the country's economy to have recorded a 5.3 percent growth during the fourth quarter of last year, the highest since the fiscal year 2014-2015.

The governor noted that the resolution to liberate the Egyptian pound exchange rate in November 2016 has been one of the best decisions made.

Governor Amer explained the move to have contributed in 64 percent of the increase in Egypt's current account in a year.

Amer added "these indicators confirm the remarkable progress of the Egyptian economy, with economic growth up to 5.3 percent in the last quarter of 2017."

The statement has been made by the governor of the Egyptian central bank during the annual meeting of the African Development Bank (AfDB) in Busan in South Korea.

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