Nigeria Content Online

Egypt’s gross
domestic product (GDP) accelerated to an annualised 5.9 percent in the
three months to end-June, indicating the country had rebounded from the
global crisis, a cabinet statement said on Wednesday. Growth for the
entire financial year to end-June rose to 5.3 percent from 4.7 percent
in 2008/09, the statement said.

“This
indicates a near full recovery from the global crisis and a return to
the path of rapid economic growth similar to the period before the
global crisis,” the statement quoted Economic Development Minister
Osman Mohamed Osman as saying. Government officials have forecast that
in the fiscal year that began on July 1 the economy could grow by 5.8
to 6.0 percent.