Cairo – Mubasher: Egypt’s inflation is likely to drop above 10% by the end of the current fiscal year, head of the International Monetary Fund (IMF) mission for Egypt Subir Lall said.
The inflation rate is expected to reach a single digit by the end of the IMF’s three-year loan fund facility, Lall added in a press conference on Tuesday.
The IMF nod to grant Egypt a $12 billion loan fund facility over three years, which the most populous Arab country received about $4 billion of it through two loan installments of $2.75 billion and $1.25 billion, respectively.
