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Egypt's Economic Growth Rate Hits 5.4% in 3rd Quarter of 2017/2018 Fiscal Year
Source: 5/18/2018

Planning Minister Hala Saeed said Egypt's economic growth rate hit 5.4 percent during the third quarter of 2017/2018 fiscal year, the highest ever rate in the past seven years.

At a press conference at the cabinet headquarters, the minister said all sectors in the country achieved positive growth rates, citing the rise of Suez Canal revenues by 17.5 percent.

She added that unemployment rate went down to 10.6 percent as 400,000 job opportunities were provided in the third quarter of the fiscal year.

Inflation rate went down to 12.9 percent and exports increased by 12 percent to hit 17.5 billion dollars compared to 15.6 billion dollars in the corresponding period of 2017, she said.

Imports decreased by three percent to hit 44.4 billion dollars, bringing down deficit in trade balance from 30.2 billion dollars to 26.8 billion dollars.

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