Egypt targets economic growth of up to 4.2% in 2023: Elsaid
Updated 7/12/2023 9:06:00 AM
Arab Finance: Egypt is targeting achieving economic growth of around 4.1% to 4.2% this year, Minister of Planning and Economic Development Hala Elsaid said in an interview with Asharq Business on July 11th.
The minister expects the sale of the government’s stakes in the military-owned National Company for Producing and Bottling Water (Safi) and the fuel retailer Wataniya to be conducted within October or November.
This came after three out of seven investors were shortlisted to buy the stakes.
Additionally, the minister revealed the appointment of an international consultant to advise on turning several ministerial premises in Downtown Cairo into boutique hotels, provided that the consultant submits its report within three months.
On May 8th, the Egyptian cabinet revealed that the government started receiving offers from investors seeking to buy shares in Safi and Wataniya.
The IPO program aims to sell stakes in 32 state-owned companies across various sectors to attract strategic investors.
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