FINANCIAL NEWS

Egypt’s economy to improve amid 2017 first months’

09 Mar 2017

(MENAFN) The Egyptian economy is projected to witness fair improvement amid the first months of this year, accompanied by a general state of stability.

However, the expected slowdown of the economy in fiscal years 2016/2017 is a result of the private consumption being impacted as high inflation rates.

Meanwhile, inflation reached 28.1 percent in Jan, while FocusEconomics predicts it to reach an average of 20.2 percent amid this year and 14.0 percent in 2018.

In Feb, Emirates NBD Egypt’s Purchasing Index increased from 43.3 in Jan to 46.7 in Feb, while it rose to its highest level since August 2016.

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MENAFN0903201700450000ID1095301868

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