Economy achieves highest annual growth rate

CAIRO AUGUST 1 (SEE) The Ministry of Planning published an annual report on Wednesday showing the economic and social performance indicators during the 2017/2018 fiscal year.

The economic growth rate for the current fiscal year reached 5.3%, compared with 4.2% last year. "The Egyptian economy achieved the highest annual growth rate in ten years," the ministry said.

The growth rate for the fourth quarter of the fiscal year 2017/2018 reached 5.4% compared to 5% in the same quarter of the fiscal year 2016/2017, bringing the Egyptian economy the highest quarterly growth rate since eight years.

Investment and net exports accounted for 76% of growth for the fourth quarter of the fiscal year 2017/2018, and 74% for the whole year.