The Egyptian Prime Minister Hisham Qandil said on Wednesday the national socio-economic plan will reconcile various political and economic tendencies in the country.
He told the Cabinet that the plan will realize stability and improve growth rates. The plan, published in Al Ahram newspaper forecasts a growth rate of 4.1 percent in 2013/14, up from the 3 percent expected for the current 2012/13 fiscal year.
The growth rate for individual incomes, meanwhile, is expected to rise to 2.1 percent in the next fiscal year, according to the plan. In 2012/13, the figure is forecast to rise by 0.6 percent. The government also anticipates the investment rate to increase to 16.3 percent of gross domestic product (GDP) by 2013/14. The investment rate for the first quarter of the 2012/13 fiscal year stood at 11.1 percent of GDP. Projected investment increases are, in turn, expected to reduce the national unemployment rate to 12.4 percent compared to the current 13 percent, according to the government plan.
MENAFN - Qatar News Agency