Egypt’s PM wants to boost private sector investments – Reuters

CAIRO, May 15 (Reuters) – Egyptian Prime Minis…….

CAIRO, May 15 (Reuters) – Egyptian Prime Minister Moustafa Madbouly said on Sunday he wanted the private sector to account for 65% of all investment in the country within three years, up from around 30% at present.

He also said in a press conference that the government aims to decrease total debt to 75% of gross domestic product in the next four years from 86% currently, and the budget deficit to 5% from 6.2%.

Madbouly said that the country aims to achieve a primary surplus of about 1.5% in the current fiscal year that ends in June 2022, which would rise to 2% of GDP over the next four years.

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Reporting by Momen Saeed Atallah, Yasmin Hussein and Moataz Mohammed
Editing by Gareth Jones and Peter Graff

Our Standards: The Thomson Reuters Trust Principles.


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