Egypt’s inflation rate, which stood around 30 percent in May, is expected to rise by between 3 and 4.5 percentage points following last week’s fuel price hike, Deputy Finance Minister Ahmed Kojak told Reuters last week. On 25 July, Egypt increased fuel prices by up to 50 percent to help meet the terms of a USD 12 billion (EGP 579.12 billion) International Monetary Fund (IMF) loan agreement. After the central bank floated the pound currency in November as part of the IMF deal, Egypt’s inflation hit a three-decade high. Despite the inflation rate slowing for the fourth consecutive month to 27.5 percent in June, down from 28.1 percent in May, it remains significantly higher than the Central Ba
Hence then, the article about egypt s inflation expected to surge following fuel price hike was published today ( ) and is available onEgyptian Streets ( Egypt ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details Finally We wish PressBee provided you with enough information of ( Egypt’s Inflation Expected to Surge Following Fuel Price Hike )