{"id":650246,"date":"2017-03-20T04:06:56","date_gmt":"2017-03-20T04:06:56","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/20\/economic-growth-3-8-in-2q16-17-growth-target-5-next-fiscal-year-el-said\/"},"modified":"2017-03-20T04:06:56","modified_gmt":"2017-03-20T04:06:56","slug":"economic-growth-3-8-in-2q16-17-growth-target-5-next-fiscal-year-el-said","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/20\/economic-growth-3-8-in-2q16-17-growth-target-5-next-fiscal-year-el-said\/","title":{"rendered":"Economic growth 3.8% in 2Q16-17, growth target 5% next fiscal year -El Said"},"content":{"rendered":"

Egypt\u2019s economy grew 3.8% in 2Q16-17, Planning Minister Hala<\/strong> El Said said<\/strong> yesterday, according to Reuters<\/a>. The government will target a GDP growth rate of 5% in FY 2017-18 for the budget being prepared currently, she added, and the target will increase to 6-6.5% by 2020. El Said attributed the slowdown in economic growth in the second quarter of the state\u2019s July-June fiscal year to a decline in consumption and a rise in price of imports after the EGP float. Reuters notes although El Said said the rate slowed down from 4%, the government had reported the figure as 3.8%. Budget deficit for 1H FY 2016-17 was 5.4%, down from 6.4% a year earlier, she added.<\/p>\n

Meanwhile, the Oil Ministry is setting the average price of international crude at USD 55-60 <\/strong>per barrel <\/strong>for next fiscal year\u2019s budget, according to Youm7<\/a>. As we noted yesterday, the EGPC said it will be calculating its fuel subsidy costs for the budget using the average EGP-USD exchange rate since the pound was floated in November. And as we note in Last Night\u2019s Talk Shows, above, Amr El Garhy is budgeting at EGP 16.00 to the greenback<\/strong> for next year.<\/p>\n","protected":false},"excerpt":{"rendered":"

Egypt\u2019s economy grew 3.8% in 2Q16-17, Planning Minister Hala El Said said yesterday, according to Reuters. The government will target a GDP growth rate of 5% in FY 2017-18 for the budget being prepared currently, she added, and the target will increase to 6-6.5% by 2020. El Said attributed the slowdown in economic growth in […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-650246","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"92aedb09-8e24-4f85-a9ce-9ae25c9d7af0","order":"0","is_powered_by":true,"section_story_id":"4602640e-9c4e-4b00-9bb7-14b8598614b7","story_type":"1","photo_url":"","photo_position":"above","related_issue":[650238],"teaser":"","voice_url":""},"yoast_head":"\nEconomic growth 3.8% in 2Q16-17, growth target 5% next fiscal year -El Said - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2017\/03\/20\/economic-growth-3-8-in-2q16-17-growth-target-5-next-fiscal-year-el-said\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Economic growth 3.8% in 2Q16-17, growth target 5% next fiscal year -El Said\" \/>\n<meta property=\"og:description\" content=\"Egypt\u2019s economy grew 3.8% in 2Q16-17, Planning Minister Hala El Said said yesterday, according to Reuters. 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The figures, discussed during a meeting between President Abdel Fattah El Sisi and senior ministers at the weekend, surpass government forecasts\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/7\/198.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":647953,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/05\/24\/govt-targets-primary-surplus-next-fiscal-year-sees-economic-growth-at-4-6\/","url_meta":{"origin":650246,"position":3},"title":"Gov\u2019t targets primary surplus next fiscal year, sees economic growth at 4.6%","author":"enterpriseam admin","date":"24 May 2017","format":false,"excerpt":"The Finance Ministry made its budget proposal public yesterday (pdf, Arabic, 146 pp): The government is targeting a primary surplus of 0.3% of GDP in FY 2017-18 according to the Finance Ministry\u2019s budget proposal (and financial statement) presented to the House of Representatives. The primary surplus is expected to increase\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":612940,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/01\/04\/a-sneak-peek-of-next-fiscal-years-budget\/","url_meta":{"origin":650246,"position":4},"title":"A sneak peek of next fiscal year\u2019s budget","author":"enterpriseam admin","date":"4 January 2024","format":false,"excerpt":"The government sees the economy growing at a 4.7% clip in the coming fiscal year","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/1\/234.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":597714,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/02\/govt-revises-downwards-fy2018-19-growth-forecast-to-5-6\/","url_meta":{"origin":650246,"position":5},"title":"Gov\u2019t revises downwards FY2018-19 growth forecast to 5.6%","author":"enterpriseam admin","date":"2 May 2019","format":false,"excerpt":"EXCLUSIVE- FinMin revises FY2018-2019 growth forecast to 5.6%: The Finance Ministry has revised downwards its growth forecast for FY2018-2019 to 5.6%, down from 5.8% previously, according to an official document seen by Enterprise. 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