May 17, 2018 / 12:05 PM / 4 months ago

UPDATE 1-Egypt's GDP growth for Q3 of 2017/18 fiscal year at 5.4 pct

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CAIRO, May 17 (Reuters) - 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.

“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)

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