Egypt's growth to miss forecasts

Egypt's economy will only grow by 2.0 percent in the fiscal year ending June 2014, well below the government target of 3.5 percent, according to a Reuters poll of economists who lowered their forecasts once again.

Chances for an economic rebound were hurt by violence and political turmoil after Islamist President Mohamed Mursi was ousted by the army on July 3 after mass protests against him.

The consensus of 10 economists polled by Reuters for 2.0 percent growth in the fiscal year to the end of June 2014 is down sharply from 2.6 percent in a poll conducted in September.

The survey suggested growth would accelerate to 3.3 percent in the year to June 2015, also well behind the government's 4.5 percent target.

Egypt's economy grew a meagre 2.1 percent in the year to end-June 2013.