Egypt Growth to Reach 5.2%
Egypt Growth to Reach 5.2%

Egypt Growth to Reach 5.2%

Egypt Growth to Reach 5.2%

The International Monetary Fund expects economic growth in Egypt to reach 5.2% in 2018 and 5.5% in 2019, according to its new World Economic Outlook report. The report moreover forecasts growth to reach as much as 6% by 2023, reflecting the rise in domestic demand and the impact of recent economic reforms which is now harvesting their fruits, AFP reported. The IMF also predicts a decline in Egypt’s unemployment rate to 11.1% in 2018 and 9.7% in 2019 compared to 12.2% in 2017. Earlier this week, Egyptian Minister of Finance Amr el-Garhy revealed that the government’s IMF-sponsored economic reform program has yielded results, saying it helped decrease the unemployment rate by 2.3 percentage points in the past three years. The IMF also expects inflation rates in Egypt to fall to 13% in 2019 compared to 20.1% during the current fiscal year. Egypt’s official statistics body the Central Agency for Public Mobilization and Statistics reported that the annual urban consumer price inflation fell by 1.1% in March compared to February this year.

Short URL : https://goo.gl/WYpH4G
  1. https://goo.gl/8pvfhk
  • https://goo.gl/WyP2EN
  • https://goo.gl/SDbwG6
  • https://goo.gl/XBuUhY
  • https://goo.gl/DPBT8M

You can also read ...

Shifting transactions from cash to digital payments holds great promise for  individuals, businesses and governments.
More than 23% of the world's economy operates out of sight of...
Federal Reserve Board Chairman Jerome Powell speaks during a hearing before the Senate Banking, Housing and Urban Affairs Committee.
US Federal Reserve Chairman Jerome Powell said protectionism...
India Launches 888 Anti-Dumping Probes
The Indian government has initiated as many as 214 anti-...
Fitch Retains Philippine  Debt Rating
Global debt watcher Fitch Ratings kept the Philippines’...
The warnings come amid a period of financial uncertainty for the world.
US officials who helped the country survive the 2008 financial...
EU to Fine Google $5 Billion
Google will be fined about €4.3 billion ($5 billion) by the...
UN to Help Rebuild Gaza Economy, Create Jobs
Against the backdrop of rapidly rising tension, violence,...
Africa Next Frontier for Crypto
Cryptocurrency is not bound by geography because it is...

Add new comment

Read our comment policy before posting your viewpoints