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The Egyptian government is to press on with economic reforms aimed at boosting growth in the coming fiscal year 2015-16 starting on 1 July, the Ministry of Finance said this week in a preliminary budget statement.
Egypt’s economic indicators have shown some signs of improvement recently, the ministry noted, with GDP growth in the first half of the 2014-15 (July-December 2014) rising to 5.6% from 1.2% in the corresponding period of the previous year, and unemployment falling slightly to 12.9% in December 2014 from 13.4% in June 2014. The ministry went on to say that in 2015-16 the government will seek to complete its economic and social reform program, with priority given to investment in human capital, infrastructure projects and better targeting of subsidies to Egyptians needing social support.
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