Egypt’s Q4 2016-17 GDP growth rises to 4.9 pct -Finance Ministry

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CAIRO – Egypt’s gross domestic product (GDP) grew by 4.9 percent in the fourth quarter of the 2016-17 fiscal year that ended in June, up from 2.3 percent in the same period of the previous year, a Finance Ministry report showed on Wednesday.

The budget deficit during the first nine months of 2016-17 narrowed to 9.5 percent of GDP from 11.5 percent in the same period a year earlier, the report said.

Foreign direct investment in the 2016-17 fiscal year was up 27.5 percent from 2015-16, it also showed.

Reporting by Ahmed Aboulenein; Editing by Eric Knecht

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