$4.5 billion surplus in balance of payment

Egyptian economy achieved for the first time a surplus of $4.5 billion in the balance of payment in the fiscal year 2004/2005.

Minister of Foreign Trade and Industry Rasheed Mohamed Rasheed attributed such surplus to the increase in commodity exports in last year by 32%.

Industrial growth rate rose to 5.1% for the first time, he said.

The state plans to increase the industrial growth rate to 10% over the coming five years.