April 18, 2018 / 12:19 PM / a month ago

CORRECTED-IMF expects GDP growth for FY 2017/18 at 5.2 percent -finance minister

(Corrects to show forecast is from IMF, not Egypt)

CAIRO, April 18 (Reuters) - The International Monetary Fund (IMF) expects Egypt’s GDP growth to hit 5.2 percent in the current fiscal year that ends in June, according to a statement from the finance minister on Wednesday.

Finance Minister Amr El Garhy said the country is targeting an unemployment rate of 9.7 percent by the end of the next fiscal year.

Egypt’s fiscal year begins in July and ends in June. (Reporting by Arwa Gaballa Editing by Catherine Evans)

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