Egypt economy grew 4.1 pct in fiscal 2014-15: minister

Egyptian Investment Minister Ashraf Salman talks during signing of an agreement between the Ministry of Investment and the new Suez Canal during the final session of the Egypt Economic Development Conference (EEDC) in Sharm el-Sheikh, in the South Sinai governorate, south of Cairo, March 15, 2015. REUTERS/Amr Abdallah Dalsh

CAIRO (Reuters) - Egyptian Investment Minister Ashraf Salman said on Tuesday his country's economy grew by 4.1 percent in the financial year that ended in June and projected it would grow by 5 to 5.2 percent in the year to next June. Salman added in a speech at a lunch banquet sponsored by the American Chamber of Commerce that Egypt is targeting $10 billion in foreign direct investment for the current financial year. The government hopes to cut unemployment from 11.2 percent to 10.6 percent this financial year, Salman said.