Cairo – Mubasher: The International Monetary Fund (IMF) lowered its forecast for Egypt’s consumer price index (CPI) to 9.6% for fiscal year 2019/2020 from 10.7%.
In addition, the IMF expects Egypt’s inflation rate to slow down to 7.4% in FY20/21 and 7% in FY21/22, according to the IMF’s fifth and final review of Egypt’s economic reform programme.
It is noteworthy that Egypt’s annual inflation rate dropped to 4.3% last September, hitting its lowest level since December 2012.
The international financial institution also forecasts Egypt’s economy to grow by 5.9% during FY19/20.
