Egypt Announces Ambitious Macroeconomic Policy Targets

The Egyptian government is targeting a real GDP growth rate of 6% by mid-2019 – compared to 2.2% in 2013-14 and to a projected 3.5% in 2014-15 – according to a medium-term macroeconomic policy framework for the period 2014-15 to 2018-19, recently unveiled by the Ministry of Finance.

The policy framework document has set for itself ambitious targets which may not be attainable however, given the political and economic pitfalls that could be encountered over the coming five years. Egypt’s economic growth has suffered from political turmoil following the overthrow of the Husni Mubarak regime in early 2011 and is only now beginning to show signs of recovery. (CONTINUED - 1051 WORDS)