September 15, 2019 / 11:09 AM / in a month

Egypt's economy to grow by 8% annually by 2022-PM

CAIRO, Sept 15 (Reuters) - Egypt expects its economy to grow by an annual rate of 8% by 2022, Prime Minister Mostafa Madbouly said on Sunday.

“The Egyptian government expects growth to gradually pick up to 8 percent by 2022,” Madbouly told a meeting of Arab central bank governors.

In July, Madbouly said gross domestic product (GDP) grew 5.6% in the 2018/19 fiscal year.

Barring the oil industry, Egypt’s economy has struggled to attract foreign investors since the 2011 uprising that ended Hosni Mubarak’s 30-year rule. (Reporting by Patrick Werr Writing by Ulf Laessing; Editing by Toby Chopra)

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