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Daily News Egypt: 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 | Interesting article at 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.