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FinancialNews


  • 27-07-19

    Reforms in Egypt help tackle inflation

    (MENAFN) Egypt's economic reforms contributed in the restrain against high inflation rates following the devaluation of the local currency.

    Direct of the IMF Middle East and Central Asia Department Jihad Azour commented: "inflation in Egypt exceeded 30 percent and now declined to less than 10 percent, and it is expected to go on declining by the end of this year."

    Board of the International Monetary Fund (IMF) is providing Egypt with USD2 billion as a final tranche of a loan agreement secured for the Egyptian economic reform program.

    Azour added: "Egypt's economic reform program has showed successful accomplishments since 2016 through which it managed to improve economic indicators and achieve economic and financial transformation and stability."

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