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IMF maintains Egypt's economic growth forecast

IMF maintains Egypt's economic growth forecast
Photo Credit: Arabianeye-Reuter

Cairo - Mubasher: The International Monetary Fund (IMF) kept its forecasts for the Egypt's economic growth unchanged at 4.2% for 2015 and 4.3% for 2016, according to the fund’s World Economic Outlook report.

The IMF expects the country’s consumer price index to accelerate in 2015 to 11%, compared to 10.1% in 2014, and to slow down to 8.8% in 2016.

Meanwhile, the fund also foresees Egypt's deficit falling by 0.8% to 3.7% in 2015 and 4.5% in 2016 compared to 13.4% in 2014.

As for the country's unemployment rate, it is expected to decline to 12.9% in 2015 and 12.4% in 2016, down from 13.4% in 2014