Last Update 0:46
Wednesday, 13 December 2017

Egypt's GDP growth projected at 4.5 pct in fiscal year 2017/18: IMF report

Ahram Online , Tuesday 10 Oct 2017
IMF
File Photo of the International Monetary Fund. (Photo: Reuters)
Share/Bookmark
Views: 1639
Share/Bookmark
Views: 1639

Egypt’s GDP growth is predicted to reach 4.5 percent in fiscal year 2017/18, according to the International Monetary Fund’s World Economic Outlook report for October, which was released on Tuesday.

Egypt’s consumer price inflation for the fiscal year is projected at 21.3 percent, the report showed. The unemployment rate is forecast to fall to 11.5 from 12.2.

The IMF said in late September that Egypt has made a "good start" to its reform programme. The fund said Cairo should get its third loan instalment worth $2 billion after the year-end review.

In November 2016, the IMF agreed to loan Egypt $12 billion on a three-year loan programme, which is dependent on major economic reforms including fuel and electricity subsidy cuts aimed to help ease the country's gaping budget deficit.

Short link:

 

Email
 
Name
 
Comment's
Title
 
Comment
Ahram Online welcomes readers' comments on all issues covered by the site, along with any criticisms and/or corrections. Readers are asked to limit their feedback to a maximum of 1000 characters (roughly 200 words). All comments/criticisms will, however, be subject to the following code
  • We will not publish comments which contain rude or abusive language, libelous statements, slander and personal attacks against any person/s.
  • We will not publish comments which contain racist remarks or any kind of racial or religious incitement against any group of people, in Egypt or outside it.
  • We welcome criticism of our reports and articles but we will not publish personal attacks, slander or fabrications directed against our reporters and contributing writers.
  • We reserve the right to correct, when at all possible, obvious errors in spelling and grammar. However, due to time and staffing constraints such corrections will not be made across the board or on a regular basis.
Latest

© 2010 Ahram Online.