- CAIRO: Egypt’s finance minister has revised down the country’s economic growth to between 2.5 and 3 percent in the current fiscal year as a result of fallout from the unrest that toppled former President Hosni Mubarak.
Samir Radwan says Egypt would reach out to the GCC states for help while officials will also work to broaden the country’s fiscal landscape by trying to secure as many grants as possible.
The minister’s statement was issued by his office on Tuesday.
Radwan had earlier projected GDP to slow to slightly under four percent as the mass protests that toppled Mubarak battered economic activity, driving away tourists and raising major questions about other key sources of foreign revenue such as foreign direct investment.