Egyptian economy to grow 4.5% in FY17/18 - IMF

Egyptian economy to grow 4.5% in FY17/18 - IMF
The International Monetary Fund

Cairo - Mubasher: The International Monetary Fund (IMF) is expecting a rise in Egypt’s growth rate to 4.5% during fiscal year 2017/2018, on the back of the ongoing economic reform programme.

The Egyptian finance minister previously forecasted in September that growth rate could range between 5% and 5.25% in the current fiscal year.

The Central Bank of Egypt (CBE) said on Tuesday that the basic inflation rate declined to 33.26% in September down from 34.86% in August.

Meanwhile, the data of the Central Agency for Public Mobilization and Statistics (CAPMAS) showed that Egypt’s annual inflation rate declined to 32.9% last month.

Source: Mubasher