GDP up 4.2% in first three quarters of the year

Egypt’s GDP grew by 4.2% y-o-y in the first three quarters of FY2016-17, Planning Minister Hala El Said said, according to Reuters. El Said said the growth was led by “several industries, including communication, tourism and manufacturing,” which saw year-on-year growth of 10.7%, 80%, and 7.9%, respectively, according to Al Mal. The ministry sees the economy growing at a 4% clip in the fiscal year ending 30 June.

Food exports up 7% in 4M2017: Speaking of growth, Food Export Council head Hani Berzi noted Egypt’s food exports advanced 7% year-on-year in the first four months of the year, generating total receipts of about USD 929 mn, Al Mal reports.