Finance Minister: State exerts strenuous efforts to sustain economic growth rates

CAIRO, April 13 (MENA) – Finance Minister Mohamed Maait said the State exerts strenuous efforts to sustain the economic growth rates given the improvement of the public financial indicators.

This could be achieved through keeping working on reducing the public debt-to-GDP and deficit-to-GDP ratios, the minister said at a meeting with the heads and directors of the international investment banks on the fringe of the Spring Meetings of the World Bank Group and International Monetary Fund (IMF) in Washington, D.C.

Economic reforms implemented by the Egyptian government had a positive impact on the State budget performance and economic growth rates, which are targeted to hit 5.9% in the coming fiscal year, Maait said.

The government as well seeks achieving a primary budget surplus of 2% of the GDP, Maait noted.

The government receives positive reactions from the domestic and international investment communities, he said, adding that the success of the economic reform program contributed to increasing the investment requests from all over the world.

The Egyptian economy has enjoyed the confidence of the credit rating institutions and investors, he confirmed.