Cairo – Mubasher: Egypt’s inflation rate is likely to decline to 12.9% in 2019, the International Monetary Fund (IMF) said.
Inflation rate is also expected to fall to 13.9% this year, the IMF added in a recent report.
The IMF noted that Egypt’s tourism rose following the improvement in the North African nation country’s security conditions and the resumption of direct Russian flights.
Private investments in Egypt and Tunisia are expected to increase on the back of the enhanced confidence levels and business environment, according to the report.
The Central Bank of Egypt (CBE) previously stated that the annual core inflation rate rose to 8.9% in October, versus 8.6% in September.
In October, the European Bank for Reconstruction and Development (EBRD) projected Egypt’s gross domestic product (GDP) to rise 5.5% in fiscal year 2018/2019, compared to 5.3% in FY17/18.
In July, the Egyptian planning ministry announced that the economy grew by 5.3% in FY17/18.
