Egypt's Finance Minister Samir Radwan said on Thursday the country's economic growth rate decreased from 5.8 percent to 2.6 percent in the current fiscal year.

Radwan said he expected that the economic growth would grow up to three to four percent in the upcoming fiscal year which begins in July, official MENA news agency said.

He added the budget deficit would range from 10 to 11 percent of the GDP. Egypt's economy has suffered a heavy blow since the mass protests which began in late January and toppled the former regime led by president Hosni Mubarak on Feb. 11.

Its key sectors such as tourism have been greatly affected due to security concerns.