Egypt’s economic growth to record 5.5% in 2019: IMF

Posted by - April 10, 2019

Egyptian economy will grow by 5.5% this year, the International Monetary Fund (IMF) said in its World Economic Outlook (WEO) April 2019. Further, the IMF expected that the country’s economic growth will reach 5.9% in 2020. However, Egypt’s economic growth forecast was estimated at 6% in the fiscal year (FY) 2019/20. The WEO expected that

$52m increase in Egypt’s foreign exchange to hit $44.11bn

Posted by - April 3, 2019

The Central Bank of Egypt (CBE) has announced an increase in foreign reserves by $52m by the end of March 2019, reaching $44.11bn, compared to $44.06bn by the end of February 2018. This level of reserves covers more than eight months of commodity imports in Egypt. The foreign exchange reserves increased by 14.9% or $5.53bn