Media ININ Economy We Trust
Media In / Agencies 13-01- 2019
Egyptian Prime Minister Dr. Mostafa Medbouli confirmed that foreign net reserves rose to 42.5 billion dollars in December compared to 24 billion dollars in December 2016. He pointed out that the basic inflation rate dropped to 8% last November compared with 30% in July 2017.
In his speech at the Third Investment Conference for the Middle East and North Africa (MENA), held in Cairo today, Medbouli pointed out that the GDP growth rate of 5.3% in the fiscal year (2017 – 2018) compared to only 4.2% in the fiscal year 2015-2016 ).
The unemployment rate fell to less than 10% in the third quarter of 2018, from 12.5% in 2016, and the fiscal deficit declined to 10.5% in fiscal year 2017-2018 compared to 12.5% two years ago, As well as the decline in the current account deficit of gross domestic product to -2.4% in fiscal year 2017 -2018 from -6.1% in fiscal year 2016 – 2017.
The Egyptian Prime Minister stressed that the Egyptian government will always maintain contact with the business community to inform him of various reform programs and their objectives and means of achieving them, in order to achieve the highest rates of economic growth and improve the standard of living.
