Egypt’s economic growth stable at 5.6%: minister

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SOCHI, RUSSIA OCTOBER 24, 2019: Egypt's Minister of Planning, Monitoring and Administrative Reform Hala Helmy Elsaid Younes at the 2019 Russia-Africa Summit and Economic Forum, at the Sirius Park of Science and Art. Sergei Malgavko/TASS Host Photo Agency (Photo by Sergei MalgavkoTASS via Getty Images)
Egypt’s Minister of Planning, Monitoring and Administrative Reform Hala Helmy Elsaid Younes at the 2019 Russia-Africa Summit and Economic Forum, at the Sirius Park of Science and Art. (Photo by Sergei MalgavkoTASS via Getty Images)

The economic growth of Egypt remained stable at 5.6 percent in the first quarter of the fiscal year 2019-2020 starting in July, Egyptian Minister of Planning Hala el-Saeed said on Wednesday.

“The figure is considered one of the key indicators at this time when the global growth is slowing down, reaching 3 percent in 2019 and 3.4 percent in 2020,” official news agency MENA quoted el-Saeed as saying.

The International Monetary Fund has predicted a 5.9-percent growth in Egypt in 2020, she added.

El-Saeed attributed the success of keeping the economic growth stable to the five sectors of internal trade, agriculture, real estate, industry and communication.

The five sectors contributed 56 percent of the GNP during the first quarter, she said.

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