Cairo – Mubasher: Egypt’s foreign reserve is expected to rise to $28 billion by the end of the fiscal year 2016-2017, said a report by PNP Paribas.
The report, released on Wednesday, said that the inflation rate doubled this year to 20%, expecting it to decline to 14% during fiscal 2017-2018.
The bank forecasted the Egyptian economy to rise by 3.8% during the fiscal year 2016/17, while foreign investments are expected to exceed $10 billion.
