Egypt targets 360B EGP domestic investments in FY2015/16: Minister
Investment Minister Ashraf Salman - YOUM7

CAIRO: Egypt’ s government is targeting 360 billion EGP ($44.83 billion) domestic investments during fiscal year 2015-2016 (to end June 30,) to achieve 5 to 5.5 percent economic growth, Investment  Minister Ashraf Salman announced in a Monday conference.

The International Monetary Fund (IMF) stated earlier this month that Egypt’s economic growth is projected to accelerate in 2015 to 4-5 percent, up from 4.1 percent in the previous fiscal year, reflecting a pickup in investment.

Egypt also aims to attract $10 billion foreign direct investment during this fiscal year, Salman said at a lunch banquet hosted by the American Chamber of Commerce in Cairo last week.

Around 78 disputes with investors were resolved by the Committee of Dispute Settlement (CDS) in two months, amid efforts to lure fresh investments to bolster the country’s limping economy, Salman said Monday.


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