Egypt Q4 GDP growth rate up to 3.7 pct as confidence returns

Egypt's GDP growth rate rose in the fourth quarter to 3.7 percent, up from 2.5 percent, the government said on Monday, in the latest sign that confidence is returning to an economy battered by three years of political turmoil.

However, the full-year growth rate was barely changed, reflecting earlier quarters' weak expansion while the security and political climate in the country deteriorated.

Egypt posted GDP growth of 2.2 percent for the full 2013/14 fiscal year, which ended in June.

This was up slightly from 2.1 percent the previous year, but remains far slower than the pace needed to create enough jobs for a youthful population of 86 million.

Egypt's economy has been hammered by instability following the 2011 uprising that toppled autocrat Hosni Mubarak after 30 years in power.

But the political stability achieved since president and former army chief Abdel Fattah el-Sisiremoved the Muslim Brotherhood from power last year has boosted confidence.