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Egypt witnesses 60% drop in GDP growth rate

: Thursday, February 13 - 2014 @ 11:13

Egyptian finance ministry has said that growth rate of the country’s gross domestic product (GDP) fell to 1% in the first quarter of the current fiscal year, compared with 2.5% in the same period last year, marking a 60% drop, Xinhua has reported. Investments in Egypt also declined by 7.3% year-on-year, the ministry said, attributing the decline to “security reasons and political developments.”

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Thursday, February 13- 2014 @ 11:13 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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