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Egyptian economy seen to miss gov’t forecasts

Economists have said Egypt's economy is expected to only grow 2.6% in the fiscal year ending June 2014, well below the 3.5% the government expects to achieve, Reuters has reported. "Growth prospects for Egypt's economy have continued to sour over the past few months," said William Jackson, an economist with Capital Economics. On Monday, planning minister, Ashraf al-Arabi repeated his government's forecast of 3.5% growth this year, up from 2% in 2012/13.