Egypt aims for 7 percent growth rate, better investment management

Prime Minister Atef Ebeid, in statements following a meeting with ministers of economy, foreign trade and state for planning, said he probed preparations for the visit of Abdellatif Al-Hamad, Chairman of the Arab-Kuwaiti Development Fund, whom he will meet Saturday to discuss Egypt's finance needs from the Fund in the coming 5 years.

"The government has determined the resources governing accession to a 7% growth rate in the upcoming period," said Ebied, noting that there are two ways for continuing development rates: promotion of investments and optimal use of current investments. He pointed out that the government will give priority to investment management.

On the education front, Ebeid said he received a report yesterday from Minister of Education Hussein Kamel Bahaeddin on needs of educational buildings in the coming years, the report also dealt with urgent needs for schools required to be evicted immediately and rented schools that must be given to their owners as well as appropriations required to build more schools to cope with the increase of the number of the students during the next year.

Ebeid also referred to appropriations needed to lower classes size from 45 to 30 pupils during the next 5 years.

He said he would meet with the economic group in days to probe the best resources of finance, stressing that the state will never dawdle in delivering rented schools to their owners when alternative schools are built.

Answering a query on the increase of workers' wages, Ebeid said the government is very keen on maintaining workers' interests and ameliorate the level of income.