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The Industry Support Initiative increases the rates of economic growth and GDP to 7.5% annually

The initiative will benefit about 96,000 factories that meet the conditions for the initiative: says deputy governor of the CBE.
10.12.19 | Source: Daily News Egypt

Deputy Governor of the Central Bank of Egypt (CBE) Gamal Negm announced that the government and the CBE initiative to support the industry, whose value is $100bn, will contribute to increasing economic growth rates and gross domestic product (GDP) to 7.5% annually, benefiting about 96,000 factories that meet the conditions of the initiative.


Negm said during a press conference held on Monday that the initiative, if completed after neutralising other economic sectors, would contribute to raising growth rates from 5.2% to 5.9%. He stressed that the numerous initiatives launched by the CBE to support the economy are in line with the directives of President Abdel Fattah Al-Sisi and the directions of the government, which had positive results on economic growth, society, and in the lives of individuals.

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