Cairo – Mubasher: Egypt’s inflation is expected to fall to 10% to 12% during 2018, Reuters reported on Wednesday, citing finance minister Amr El-Garhy.
Inflation rate is likely to fall below 10% in 2019, El-Garhy added, pointing out that it is projected to drop below 20% next February.
The Central Agency for Public Mobilization and Statistics (CAPMAS) posted on Wednesday that Egypt’s annual inflation rate fell to 22.3% year-on-year in December 2017.
In November 2016, the CBE liberalised the exchange rate of the EGP to drop by 50% against the US dollar.
The CBE had to raise key rates following the flotation of the local currency in November 2016, by a combined 7%, or at 3% in November, 2% in May, and 2% in July.
