Cairo – Mubasher: Egypt’s inflation shrank to 9.2% in 2019 which is the lowest level in six years, according to data released by the Egyptian Cabinet.
The average annual inflation in rural areas went down to 9.2% last year, compared to 14.4% in 2018, 29.5% in 2017, and 413.8% in 2016.
It is worth noting that Egypt’s foreign reserves grew by $37 million at the end of January 2020.
The African Development Bank said in a recent report that the North African country’s real GDP growth is expected to accelerate to 5.8% in 2020 from 5.6% in 2019.
