Egypt posts GDP growth of 5.6% in 6 months to Dec

Customers buy handmade sweets at a street market ahead of Mawlid al-Nabi, the birthday of Prophet Mohammad, in Sayeda Zainab neighbourhood in Cairo, Egypt November 18, 2018. REUTERS/Mohamed Abd El Ghany

CAIRO (Reuters) – Egypt’s economy grew by 5.6% in the six months to December, a government statement said on Wednesday.

Egypt’s economy has been boosted in the last three years by an upswing in tourism, strong remittances from Egyptian workers abroad and recently discovered natural gas fields coming on stream.

Growth has mainly been driven by the state sector.

The economy is expected to grow 5.8% in the fiscal year ending on June 30, and 5.9% in 2020/21, a Reuters poll said in January.

Reporting by Ulf Laessing and Patrick Werr; editing by John Stonestreet

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