Cairo – Mubasher: Egypt will set an exchange rate of EGP 17.5 per US dollar in fiscal year 2018/2019 budget, Reuters reported on Tuesday, citing three top government officials.
Oil price will be resumed at $65 per barrel (pb) in the country’s FY18/19 budget, the sources added.
Given that Brent crude oil price reached $65.60 pb on Tuesday.
The North African nation is seeking to boost gross domestic product (GDP) to 5.5% over the coming fiscal year, as well as cutting deficit to around 8.5% to 8.8% of GDP.
