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Egypt sees growth slowing to 2% in 2020-21 if coronavirus continues to December: minister - Metro US

Egypt sees growth slowing to 2% in 2020-21 if coronavirus continues to December: minister

The spread of the coronavirus disease (COVID-19), during the Muslim holy month of Ramadan in Cairo

CAIRO (Reuters) – Egypt was expecting growth of 3.5% in the fiscal year 2020-21 which starts in July, but growth could slow to 2% if the coronavirus crisis continues to December, Planning Minister Hala al-Saeed said in a statement on Sunday.

The government had been targeting annual growth of 5.6% in the current fiscal year 2019-20, but was now looking at 4.2% due to the crisis, she added.

(Reporting by Ehab Farouk, writing by Mahmoud Mourad; Editing by Elaine Hardcastle)

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