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ROBUST GROWTH

Egypt eyes 2.5pc GDP growth this year

Cairo, April 15, 2013

Egypt's planning minister raised the gross domestic product forecast for the 2012/2013 fiscal year ending in June from 2.5 per cent up from 2.4 per cent, state news agency Mena said on Sunday.

Ashraf El-Araby said "economic growth in Egypt could reach 2.5 per cent in the current fiscal year," MENA said, adding that "the current growth rate was 2.4 per cent."

Meanwhile the data from the central bank showed that average yield on Egyptian 91 and 266 day treasury bills fell at an auction on Sunday.

The yield on 91-day treasury bills fell to 13.707 per cent from 13.805 percent at the previous auction on April 7.

The yield on 266-day treasury bills fell to 14.639 from 14.391 at the previous auction on March 31.

The central bank said it sold 3 billion Egyptian pounds ($436.61 million) each of 91-day and 266-day T-bills, the full amounts it had offered.-Reuters




Tags: Egypt | economy | GDP | growth |

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