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| 17 May, 2018

Egypt's GDP growth for Q3 of 2017/18 fiscal year at 5.4%

Egypt's economy has been struggling since a 2011 uprising drove foreign investors and tourists away.

People shop at Al Ataba, a popular market in downtown Cairo, November 11, 2013.

People shop at Al Ataba, a popular market in downtown Cairo, November 11, 2013.

REUTERS/Mohamed Abd El-Ghany

CAIRO- Egypt's GDP growth for the third quarter of the 2017/18 fiscal year rose to 5.4 percent from 4.3 in the same period last year, the country's planning ministry said in a statement on Thursday.

Egypt's fiscal year begins in July and ends in June.

Egypt’s economy has struggled since a 2011 uprising drove tourists and foreign investors away, but tough economic reforms tied to a $12-billion three-year IMF programme agreed in late 2016 have led to positive indicators.

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"The Egyptian economy is currently reaping the fruits of the bold economic reform program implemented by the government," Planning Minister Hala al-Saeed said in the statement, adding that this is the "best growth rate in seven years."

(Reporting by Ehab Farouk Writing by Amina Ismail Editing by Matthew Mpoke Bigg) ((amina.ismail@thomsonreuters.com; +20 2 2394 8114;))