Egypt expects economic growth at seven per cent in the year ending June 30, below earlier ministerial forecasts of 7.5 per cent.

Prime Minister Ahmed Nazif told the parliament that the annual rate of growth in the third quarter between January and March was 7.2 per cent.

In May the state news agency Mena quoted Nazif as saying January-March growth was 7.4 per cent, after 6.8 per cent in the first six months.

On Monday Fitch Rating upped its outlook on Egypt's credit rating to Positive from Stable, citing ongoing economic reforms, faster economic growth and increased investments.  Reuters