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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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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