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Latest in Economy


Egypt’s annual inflation rate dropped to 13.6% y-o-y in August, down from 33.2%

The Central Agency for Public Mobilisation and Statistics (CAPMAS) stated on Thursday that Egypt’s annual inflation rate dropped to 13.6% year-over-year down from 33.2% in August, 2017. The consumer price index increased by 1.7% month-over-month, recording 294.9 points last month, according to the CAPMAS. Notably, inflation dropped in July compared to June, registering at 13.8%, affected by decisions …

Daily News Egypt

Egypt witnessed gradually stronger growth, disinflation, rebound in FX reserves: Fitch senior director Middle East, Africa Sovereigns

The senior director and head of Middle East and Africa Sovereigns at Fitch, Jan Friederich, spoke about viewing improvements in the country’s economy following an inflationary spike. Daily News Egypt sat down for an interview with Friederich, and Primary Analyst Jermaine Leonard at Fitch. The transcript for which is below, lightly edited for clarity: How …

Daily News Egypt

2.5% increase in inflation rate in July: CAPMAS

The inflation rate stood at 289.9 points in July, at a 2.5% rise compared to June, according to the Central Agency for Public Mobilisation and Statistics (CAPMAS) on Thursday. CAPMAS said the annual inflation rate stood at 13% in July compared to 34.2% in the same month in 2017. CAPMAS attributed the rise in inflation …

Daily News Egypt

EGP 324.4 spending on subsidy in FY 2017/2018

The spending on subsidy in state budget reached  EGP 324.4 in fiscal year (FY) 2017/2018 compared to EGP 276.7bn in FY 2016/2017, of which EGP 81bn for ration goods and bread subsidy, according to Minister of Finance Mohamed Maiet. Maiet said that the government’s subsidy program for food commodities witnessed the largest increase in allocations …

Shaimaa Al-Aees