Cairo – Mubasher: The average annual inflation rate of Egypt reached 14% during the first nine months of the fiscal year 2018/2019, compared to 25.6% a year earlier, the country’s planning minister, Hala El-Saeed, said on Wednesday.
Foreign cash inflows grew 7.2% to $38.8 billion in the first half of FY18/19, compared to $36.2 billion in the year-ago period, she added.
El-Saeed noted that Egypt’s net international reserves had recorded $44.2 billion in April 2019.
Meanwhile, unemployment rate in the North African country declined by 8.9% in the second quarter of FY18/19, compared to 11.3% in Q2-17/18, the minister revealed.
El-Saeed stated that Egypt’s public investments grew by 19% year-on-year during the first nine months of FY18/19.
