GDP
Maait clarified that this is the result of the careful implementation of harmonious and balanced financial and economic policies.
She added that the growth rate is expected to rise to 5.4 percent during the current fiscal year, supported by the expected significant growth in the performance indicators for the first and second quarters.
El-Said added that the sector and outsourcing services to reach $6 billion, compared to the $3.5 billion targets for the 21/2022 plan year.
The Media Center of the Cabinet released Saturday the figures.
El-said clarified that this will create job opportunities in the sector, and increase the income of small farmers, whilst increasing exports.
Egypt recorded a growth rate of about 2.9 percent during the third quarter of FY 2020/2021.
The pandemic is expected to be contained by mid-2021 as a result of discovering vaccines and making them available.
The economic and social plan of 2021/2022 by the minister of planning outlines promising figures as part of the medium-term sustainable development (2018/2019-2021/2022).
Minister of Finance clarified that this comes as a result of the expansion of development investments that reflect the success of the state, in achieving a balance between preserving the health of citizens and turning the wheel of the national economy.
The success of economic reforms contributed to mitigating the effects of the Corona pandemic: Says Hala El-Said
Egypt is considered the third best country in terms of growth rates during the last fiscal year despite the Corona pandemic, which affected the global economic slowdown, indicating that the growth rate reached 3.6 percent, and 5.6 percent was targeted.
The unlicensed markets are those that are neither monitored by the government nor taxed, and whose output is not counted in the GDP.
That was during her participation via videoconferencing in the symposium on "Sustainable Development Goals after the Coronavirus Pandemic" organized by Bibliotheca Alexandrina.
Kamali clarified the importance of having accurate data, available regularly and not late so that decision-makers can take correct evidence-based policies.
Molla added in his statement to the House of Representatives, that the contribution of the mining sector to the GDP is "insignificant", and does not exceed half a percent only, which does not reflect the real capabilities of this sector.
The Ministry of Planning and Economic Development showcased in a statement Tuesday the views of the International Monetary Fund (IMF) and the Institute of International Finance (IIF).
For the 100 million Egyptians to feel the impact of development programs accomplished, our annual GDP must be $100 trillion which is beyond our capacity, President Sisi added.
The perception of international institutions is still positive towards the Egyptian economy, minister of planning highlights.
IMF also praised Egypt's proactive and targeted response to the economic repercussions of the Coronavirus.
Five sectors will majorly contribute in such improvement.
