Egypt’s GDP growth at 5.2% during first quarter of 2017-18 — planning minister

CAIRO

Egypt’s gross domestic product growth in the first quarter of the 2017/2018 financial year climbed to 5.2 per cent from 3.4 per cent the previous year, the planning minister said on Wednesday.

The country expects an economic growth rate of between 5 and 5.25 per cent in the current fiscal year ending in June 2018, Finance Minister Amr Al Garhy has said previously.

Separately, Egypt is set to receive its next International Monetary Fund loan disbursal in December, Al Garhy said on Wednesday, a $2 billion payment that is part of a three-year $12 billion loan agreement.