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Egypt’s economy rises 1.8% in H1

Egypt's finance minister has said the country's economy grew between 1.8 and 2% in the fiscal year that ended in June 2012, Saudi Gazette has reported. Local investment bank, Beltone Financial previously forecast an acceleration of real GDP growth from 1.8% in financial year 2010/11 to 2% in 2011/12. A note from Beltone last week predicted 3% growth in the 2012/13 fiscal year, which started July 1, dependent on newfound political stability spurring domestic demand, but suggested that growth could falter if continued political upheaval postpones economic policy-making.