Egypt's GDP growth rises to 4.2 percent

Egypt's economy grew 4.2 percent in the 2014/2015 fiscal year, up from 2.2 percent growth during the previous year, the country's planning minister said on Saturday. Total GDP for fiscal year 2014/2015, which ended in June, was 2.4 trillion Egyptian pounds ($307 billion), the minister said. Fourth-quarter growth for 2014/2015 rose to 4.5 percent from 3.8 percent a year earlier, planning minister Tarek Kabil told a press conference. Total investment was 14.2 percent of GDP for 2014/2015, up from 13.3 percent a year earlier, but the country's trade deficit rose to $38.8 billion for 2014/2015 from $34.1 billion the year before.