Egypt's economy is expected to grow by more than 3 percent during the 2014/15 fiscal year, Finance Minister Hany Kadry Dimian said on Monday, in line with previous forecasts.

The minister spoke the day after President Abdel Fattah al-Sisi approved a revised and tightened budget for the next fiscal year, which begins Tuesday, the first step toward a period of painful economic austerity. – Reuters