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Egypt’s Prime Minister Sharif Isma’il this week unveiled details of a wide-ranging three-year (July 2016-June 2019) development plan to revive the economy. Cairo is looking to cut the budget deficit to 8-9% of GDP by the end of the decade from current 11.5%, as it looks to curb public debt which has spiraled to 93.7% of GDP from 79% six years ago.
“The current situation requires all of us to work hard and place the country’s interest above other considerations,” Mr Isma’il told MPs, whilst listing “threats to national security, growing population, high unemployment and low-quality services” as the key challenges facing the country. (CONTINUED - 739 WORDS)