Finance Minister Hani Qadri held a meeting Thursday with Ambassador James Moran, head of European Union Delegation to Egypt, to discuss the economic situation in the country.
In a statement on Friday, the ministry said Qadri posted Moran on Egypt's development plan.
A new development strategy will be adopted and new economic policies activated, the statement said.
Qadri expected the economic growth rate to up by 6% in the next five years, voicing hope it could reach 3.5% in 2014-2015.
The Ministry of Finance is working to reduce the budget deficit to 10.5% during the current fiscal year. Qadri told Moran.
He noted that the New Suez Canal is the most prominent development project in the country and it reflects confidence of Egyptians in their government.
The project will have a positive impact on Egypt’s national economy, he added.
Qadri said that the government is keen on offering investment-attractive projects through participation with the private sector.
The international financial institutions are interested in financing such projects, which reflects confidence in the Egyptian economy, he said.
He noted that a delegation of the International Monetary Fund will visit Egypt in November.