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Justin Kuepper

Egypt Unveils Its Economic Plans

By November 15, 2012

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Egypt released its long-awaited economic plans earlier this week, which targeted 3.5% to 4% growth this fiscal year with an unemployment rate of about 12.6%. While the plan didn't contain many surprises, there were some key questions that were left unanswered.

Investors in Egypt were hoping to get an idea of whether or not the country would accept a loan from the International Monetary Fund (IMF), while contractual agreements with the government also remains somewhat murky.

The Market Vectors Egypt Index ETF (EGPT) fell a modest 1.85% this week after the news, but is trading more than 51% higher so far this year as the economy continues to recover.

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