Cairo – Mubasher: Egypt’s inflation rate is forecast to soar to 18.2% during 2017, compared with10.2% in 2016, according to the World Economic Outlook issued by the International Monetary Fund (IMF) Tuesday.
In April, the IMF expected inflation to hit 9.5% in 2017.
Core inflation rose to 13.25% year-on-year in August 2016 from 12.31% a month earlier, the Central Bank of Egypt stated on 8 September.
The country’s budget deficit is likely to reach 8-8.5% by 2019/20, while inflation is expected to decline 7-8% by 2018/19.
