Egypt PM Madbouly says aiming to boost private sector investments

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Egyptian Prime Minister Moustafa Madbouly said on Sunday he wanted the private sector to account for 65 percent of all investment in the country within three years, up from around 30 percent at present.

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He also said in a press conference that the government aims to decrease total debt to 75 percent of gross domestic product in the next four years from 86 percent currently, and the budget deficit to 5 percent from 6.2 percent.

Madbouly said that the country aims to achieve a primary surplus of about 1.5 percent in the current fiscal year that ends in June 2022, which would rise to 2 percent of GDP over the next four years.

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