EBCC lauds economic performance in Egypt

The Egyptian British Chamber of Commerce is pleased with the economic performance in Egypt one year after President Abdel Fattah El Sisi has taken office.

The economic performance over the past year has been excellent despite political and security challenges, EBCC Secretary General Taher el Sherif said Saturday.

He told MENA a strategy has been adopted to reduce the budget deficit and achieve growth rates.

The Egypt Economic Development Conference (EEDC), which was held in Sharm el Sheikh mid march, had greatly contributed to attracting investments to Egypt, Sherif said.

He touched upon positive reports about Egypt by international funding foundations.

Egypt's credit rating has also been upgraded, Sherif noted.

He expected growth rates to reach six percent the next year.

The quicker mega projects, such as the new capital and the Suez Canal Development Corridor, are implemented, the less unemployment rates become, Sherif said.