Egypt needs $200-300bn for development: Sisi

March 16th, 2015

FAKE NEWS for the Zionist agenda

File photo of Egyptian President Abdel-Fattah al-Sisi with his cabinet

File photo of Egyptian President Abdel-Fattah al-Sisi with his cabinet Egyptian President Abdel-Fattah al-Sisi said Sunday that his country needs between $200 to $300 billion for development.

Al-Sisi’s remarks came during the closing session of Egypt Economic Development Conference, a three-day conference that was held in the Red Sea resort of Sharm el-Sheikh.

The Egyptian president said that a similar conference should be held every year and urged investors to work closely with the Egyptian government on reviving the country’s economy.

During the three-day conference, the Egyptian government has unveiled a host of investment projects at the conference in hopes of luring investment to revive its ailing economy.

Egypt received a total of $4.7 billion worth of foreign investment during the 2013/14 fiscal year.

The Egyptian government expects a four percent GDP growth in 2014/15, up from 2.1 percent the previous fiscal year.