Egypt’s economy to grow 3.9% in 2016-17, missing government target

Egypt’s economy will expand 3.9 per cent in the fiscal year ending in June, missing the government’s target of around 5 per cent and dipping below last year’s growth rate, a Reuters poll showed on Wednesday.
The poll predicts economic growth will slow in the fiscal year starting in July to 3.5 per cent but pick up again in 2018/19 to reach 4.0 per cent, according to the median of 14 economists polled by Reuters. It grew 4.2 per cent during the 2014/15 fiscal year.
Before the 2011 uprising that overthrew former president Hosni Mubarak and drove away tourists and foreign investors, the economy grew about 7 per cent annually for several years.