Egypt seeks upping growth rate to 4.2%

As economic reform is the major challenge facing Egypt, the government seeks to reduce budget deficit and up growth rate to 4.2 percent, the Egyptian premier said.

During a meeting late Monday with the Egyptian community in Equatorial Guinea on the fringe of the Conference of the Fight Against Ebola in Africa, Ibrahim Mahlab noted that the unemployment rate receded by 1 percent.

Meanwhile, he noted that the Arab Contractors company managed to finalize the Egyptian embassy building in six months in line with his orders.

The embassy was inaugurated on June 30.

He added that he asked the company to work 24/7 to swiftly finalize projects in Egypt, especially those in the fields of sanitation and drinking water.

He noted that Egypt has regained its prestige in view of its fight against cronyism and corruption under directives of President Abdel Fattah El Sisi.

Decision makers are given a chance to act firmly, he said, adding that there is a genuine will to empower youth in leadership posts.

Meanwhile, Mahlab called for disseminating awareness about the moderate teachings of Islam and avoiding the spread of erroneous ideas in order to protect youths from drug addiction.

Mahlab underlined that Egypt achieved a great progress at the political, economic, social and security levels.

He added that "no one can get Egypt to kneel."

He stressed that the situation in Sinai is secure, lauding the efforts exerted by the armed forces and policemen to defend their nation.

He said the inauguration of the new Suez Canal on August 6 will mark a great industrial and commercial development in the Suez Canal area and lure investments from the whole world.

As for the Ethiopian dam, he said Egypt is working positively on the issue, noting that Egypt and international expertise are revising the project to serve interests of all riparian countries.
Source: MENA