Egypt tops emerging markets containing inflation: Cabinet

SourceEgypt Today
SectorFinancial Markets

FILE: Cabinet’s meeting on Monday April 8, 2019 CAIRO, Nov 21 (MENA) – The Cabinet’s information center published an infographic showing that Egypt tops emerging markets in containing inflation domain. The infographic highlighted a report issued by the International Monetary Fund (IMF), in which it said that Egypt’s economy posted the largest decline in annual inflation rate among the emerging markets in 2020, compared with 2019, with a decrease of 8.2 percent. Egypt registered an inflation rate of 5.7 percent in 2019/20, compared to 13.9 percent recorded in 2018/19, according to the IMF’s report. The infographic shed light on the international financial institutions’ expectations for inflation rate in Egypt in 2020, with the Economist forecasting Egypt’s inflation rate to reach 4.7 percent, while Fitch Solutions projected it to register 4.9 percent. Meanwhile, Bloomberg expected Egypt’s inflation rate to hit 5.9 percent and the Capital Economics suggested that it will more...