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.
Thank you for reading this post, don't forget to subscribe!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