(MENAFN - Daily News Egypt) Mohamed Meit deputy finance minister for the public treasury said that Egypt needs to achieve growth rates of no less than 7% in order to keep up with the annual population increase which is currently at 2.5%. Meit made his comments during the Al-Ahram's conference 'The Egyptian Economy on the Road to Development.' Meit pointed out that the government pays special attention to the provision of making materials available for the benefit of national security with the current changes. Meit said he expects the budget deficit of fiscal year (FY) 2016/2017 to exceed the targeted rate of 10% of the gross domestic product (GDP). 'We give priority at the moment to supporting small- and medium-sized projects through a group of tax exemptions,' Meit said.

Source: Daily News Egypt January 16, 2017 06:10 UTC