Egypt Independent

Minister announces plan to double GDP in 10 years



The government has devised a pilot plan that aims to double the GDP in 10 years and reduce the unemployment rate by exploiting Egypt's geographical location and expanding beyond the Nile Valley, Minister of Planning and International Cooperation Fayza Abouelnaga said on Monday.

This came in the minister’s presentation of the economic and social development plan for the fiscal year 2012-13.

“The plan starts next year with clear objectives for each of its stages and mechanisms for their implementation,” she said.

Prime Minister Kamal al-Ganzouri had asked the cabinet to develop proposals for maximizing the country's resources.

In April, Abouelnaga said that the government had asked Japan to send an expert in planning and budgeting to help devise the plan, and that the next government is not obliged to adopt it.

Edited translation from Al-Masry Al-Youm