Egypt's Mubarak aims for 8 percent annual growth

Egyptian President Hosni Mubarak says his ruling party will aim for 8 percent economic growth a year over the next five years, laying out his policies ahead of next year's presidential election.

Mubarak told a party meeting Saturday that he will oversee policies like combating corruption and empowering local governments. He said his economic policies would help fight widespread poverty. Egypt's economy grew by an annual average of 7 percent for three years before the global financial meltdown in 2008. (AP)