By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
DailynewsegyptDailynewsegypt
  • Home
  • Business
    BusinessShow More
    Al-Sisi rejects claims of militarising teachers
    Al-Sisi rejects claims of militarising teachers
    September 27, 2023
    Egypt, Switzerland discuss improving economic ties, investment opportunities
    Egypt, Switzerland discuss improving economic ties, investment opportunities
    September 27, 2023
    Egypt aims to boost private sector’s role in economic activity to 65% in medium term: Finance Minister
    Egypt aims to boost private sector’s role in economic activity to 65% in medium term: Finance Minister
    September 27, 2023
    City Farm targets $50m in sales of frozen agricultural products in American market
    City Farm targets $50m in sales of frozen agricultural products in American market
    September 27, 2023
    Smoking alternatives could reduce cigarette use, save lives: NCI study
    Smoking alternatives could reduce cigarette use, save lives: NCI study
    September 26, 2023
  • Politics
    PoliticsShow More
    Egypt denounces Houthi attack on Bahraini forces in Saudi Arabia
    Egypt denounces Houthi attack on Bahraini forces in Saudi Arabia
    September 27, 2023
    Presidential election in Egypt set for 10-12 December
    Presidential election in Egypt set for 10-12 December
    September 25, 2023
    Defence Minister meets NATO Military Committee chief
    Defence Minister meets NATO Military Committee chief
    September 25, 2023
    Egypt, Jordan, and Iraq discuss economic, political cooperation in New York
    Egypt, Jordan, and Iraq discuss economic, political cooperation in New York
    September 24, 2023
    Al-Sisi highlights opportunities for mutual benefit with China
    Al-Sisi highlights opportunities for mutual benefit with China
    September 24, 2023
  • Interviews
    InterviewsShow More
    Microsoft Egypt aims to provide advanced AI models, build solid AI ecosystem: Mirna Arif
    Microsoft Egypt aims to provide advanced AI models, build solid AI ecosystem: Mirna Arif
    September 18, 2023
    I love privacy, and I am not concerned about competition: Yasmine Sabry
    I love privacy, and I am not concerned about competition: Yasmine Sabry
    September 14, 2023
    Sustainability, digital transformation at the heart of our strategy: Heidelberg Materials Egypt
    Sustainability, digital transformation at the heart of our strategy: Heidelberg Materials Egypt
    September 12, 2023
    India welcomes Egypt's BRICS membership: Boosting trade, investment, and access to strategic commodities
    India welcomes Egypt’s BRICS membership: Boosting trade, investment, and access to strategic commodities
    September 11, 2023
    The box office is not a measure of success: Basma Hassan
    The box office is not a measure of success: Basma
    September 6, 2023
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Reading: Inflation to average 8.4% in 2020: Focus Economics
Share
Notification
Latest News
Egypt denounces Houthi attack on Bahraini forces in Saudi Arabia
Egypt denounces Houthi attack on Bahraini forces in Saudi Arabia
Egypt Politics
Al-Sisi rejects claims of militarising teachers
Al-Sisi rejects claims of militarising teachers
Business
Egypt, Switzerland discuss improving economic ties, investment opportunities
Egypt, Switzerland discuss improving economic ties, investment opportunities
Business
Egypt aims to boost private sector’s role in economic activity to 65% in medium term: Finance Minister
Egypt aims to boost private sector’s role in economic activity to 65% in medium term: Finance Minister
Business
City Farm targets $50m in sales of frozen agricultural products in American market
City Farm targets $50m in sales of frozen agricultural products in American market
Business
Aa
Aa
DailynewsegyptDailynewsegypt
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Have an existing account? Sign In
Follow US
  • Advertise
© 2023 DNE News. All Rights Reserved.
Dailynewsegypt > Blog > Business > Inflation to average 8.4% in 2020: Focus Economics
Business

Inflation to average 8.4% in 2020: Focus Economics

Doaa Elboraie
Last updated: 2019/10/31 at 9:30 PM
By Doaa Elboraie 2 Min Read
Share
SHARE

Focus Economics panelists expect inflation to average 8.4% in 2020, down 0.9% from last month’s expectations, although strong economic growth should stoke price pressures ahead. So, they expect further reduction in overnight deposit rates to end 2020 at 10.61% and 2021 at 9.88%.

Inflation cooled to 4.8% in September from 7.5% in August, marking its lowest reading since December 2012, underpinned by a weaker increase in prices of foods and vegetables.

Capital Economics expects GDP to expand 5.5% in the fiscal year (FY) 2020, and 5.4% in FY 2021, which is unchanged from last month’s forecast. It also added the economy is seen slowing slightly this fiscal year on meek global economic growth, which will limit external demand growth. Solid investment growth underpinned by higher government spending and lower interest rate should cushion the slowdown.

Regarding currency, although strengthening significantly this calendar year, the Egyptian pound is seen depreciating going forward, partly as the CBE is expected to continue easing monetary policy. Capital Economics predict the Egyptian Pound ending CY2020 at EGP17.30/USD and CY2021 at EGP18.23/USD.

In terms of total investments, Capital Economics expect them to grow 11.6% in FY 2020, which is up 0.1% points from last month’s forecast, and 10.2% in FY 2021.

The Purchasing Manager Index (PMI) rose slightly to 49.5 in September from 49.4 in August. Nevertheless, the PMI remained below the 50 mark that separates contraction from expansion for the second month in a row. Going forward, businesses grew less confident about the operating outlook in September, with confidence falling to the lowest level since October 2016.

In the MENA region, Economic growth is set to accelerate notably in 2020 underpinned by expected increase in oil production. Moreover, inflation in MENA will decline in 2020 compared to this year on the back of sizable dis inflationary pressures in Egypt and Iran, although there has been a rise in global inflation due to stronger economic growth.

You Might Also Like

Al-Sisi rejects claims of militarising teachers

Egypt, Switzerland discuss improving economic ties, investment opportunities

Egypt aims to boost private sector’s role in economic activity to 65% in medium term: Finance Minister

City Farm targets $50m in sales of frozen agricultural products in American market

Smoking alternatives could reduce cigarette use, save lives: NCI study

TAGGED: Focus Economics, inflation
Share this Article
Facebook Twitter Email Print
Previous Article EALB signs a protocol with Tersana SC to finance club membership
Next Article Grand Ethiopian Renaissance Dam (GERD) on the Blue Nile River Egypt Ethiopia Sudan Daily News Egypt Egypt aims to reach tripartite legal agreement over GERD: Shoukry 
Ad image
Ad image

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News

Egypt denounces Houthi attack on Bahraini forces in Saudi Arabia
Egypt denounces Houthi attack on Bahraini forces in Saudi Arabia
Egypt Politics
Al-Sisi rejects claims of militarising teachers
Al-Sisi rejects claims of militarising teachers
Business
Egypt, Switzerland discuss improving economic ties, investment opportunities
Egypt, Switzerland discuss improving economic ties, investment opportunities
Business
Egypt aims to boost private sector’s role in economic activity to 65% in medium term: Finance Minister
Egypt aims to boost private sector’s role in economic activity to 65% in medium term: Finance Minister
Business
//
Egypt’s only independent daily newspaper in English. Discuss the country’s latest with the paper’s reporters, editors, and other readers.

Quick Link

  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

© 2023 DNE News. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?