LE 16 billion increase in Egypt's Gross Domestic Product

Egypt's Minister of Planning, Othman Mohammed Othman said the New Year will witness an increase in Gross Domestic Product(GDP) by LE 16 billion to increase to LE 378.8 billion.

The private sector participates by 70 per cent in the increase.

The revenue of tourism will up by 8 per cent and exports by 12.4 per cent. Imports will also increase by 4.1 per cent, he added.

The deficit in trade balance will decrease from LE 38.8 billion to LE 38.1 billion.

The government has allocated LE. 7.4 billion for infrastructure projects in the rural areas in addition to an urgent plan for development of towns and villages, which received finance at LE. 500 million in this year budget.