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The Minister of Finance Youssef Boutros Ghali said that maintaining the high economic growth rates which the government has successfully achieved during the last period is the most important challenge which faced the government as a result of the current global financial crisis. He added that reaching to a growth rate ranging between 6% and 7% per annum during the current fiscal year will be the top priority for the government in the coming period. He said that there is a series of procedures to be taken to achieve this rate, which depend on activating the market and increasing the demand and the domestic consumption. He added that these procedures will include spending on public investment. He added that within weeks a number of public projects for implementation under the national program for public-private partnership "PPP" will be announced including the establishment of 350 new schools with investments up to LE 12 billion. He said that the global financial crisis and its negative effects will lead to slower economic growth rates in all the world economies and that the good rates achieved by the Egyptian economy in the past years amounted to 7.2% per annum will reduce due to the expected slowdown in the growth rate to reach 6% or 7%. |
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