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FinancialNews


  • 29-11-20

    Egypt achieves largest annual decline in inflation rates among emerging markets

    (MENAFN)Egypt has exceeded all other emerging markets in containing distension, stated The Egyptian Cabinet media center on Saturday.

    The International Monetary Fund (IMF) proved that Egypt accomplished the largest yearly decline in inflation rates in emerging markets in 2020 in comparison with 2019, with a decrease of about 8.2 percent, according to the center"s report. It recorded an inflation rate of 5.7 percent in 2019/2020 compared to 13.9 percent in 2018/2019.

    The center declared that inflation rate will keep on maintaining the target range of the Central Bank of Egypt (CBE) at nine percent ("three percent).

    MENAFN29112020000045011369ID1101203396

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