Egypt targets 2013-14 growth of 4.1pc

CAIRO: Egypt's newly appointed Planning Minister Amr Darrag said on Wednesday that the government was targeting economic growth of 4.1 percent in the fiscal year that will begin on July 1.

The government had previously been predicting gross domestic product growth of 3.8 percent.

Darrag, a member of the Freedom and Justice Party of President Mohamed Mursi, is expected to take a leading role in Egypt's negotiations for a $4.8 billion loan from the International Monetary Fund. He was appointed to the post in a cabinet reshuffle announced on Tuesday.