Fitch Solutions warns of high inflation rates in Egypt ...Egypt

Inflation remains a major concern for Egyptians and will lead to a sharp rise in borrowing costs, warned Fitch Solutions, one of the Fitch Ratings companies. Since March 2022, the increase in the value of loans has been driven almost entirely by a revaluation of loans after three currency devaluations, Fitch Solutions said in a report. It anticipates that the pound will lose nearly 20 percent of its value during the remainder of 2023 and that loans to the government will remain high. Nominally, this will lead to loan growth of about 20.2 percent by the end of this year. The report stressed that despite the high interest rates and the depreciation of the currency, the banking system in Egypt

Hence then, the article about fitch solutions warns of high inflation rates in egypt was published today ( Tuesday 27/06/2023 - 10:40 AM ) and is available on EGYPT INDEPENDENT ( 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 ( Fitch Solutions warns of high inflation rates in Egypt )

Last updated : 27 June 2023 clock 10:40 AM

Also on site :

Fitch Solutions warns of high inflation rates in Egypt ...Egypt

GIGABYTE Redefines Human-AI Interaction at CES 2026 with a Fully Immersive, Participatory Experience

Large Crude, Product Builds Weigh on Oil Prices

Mars Materials Accepted into Shell GameChanger Program to Accelerate Alternative Acrylonitrile Pathway

Public Information Website Launches to Provide Transparency on Land Stewardship and Conservation in the Myakka River Basin

ICF Secures $300 Million in New European Contracts

Iran Turmoil Resurrects Specter of Critical Oil Lane Disruption

In a Risky Gambit, Trump Tries Brute Force to Lower Prices

WTI and Brent Rise as Geopolitics and Washington Rattle the Market

Kenya: Worsening Drought Kills Over 70 Livestock in Mandera Amid Calls for Aid

Engine Data Science, LLC Hires Chris Oswald as Chief Technology Officer to Advance Global Platforms and Drive Innovation

Vector Building Products Launches Premier Specialty Building Products Platform by Partnering with Spectrum Resource and Appointing John Krawczyk as CEO

Europe Signals a Truce in Its Electric Vehicle Trade War With China

China’s Hottest App Is a Daily Test of Whether You're Still Alive

API to Washington: Meet Energy Demand or Get Out of the Way

Sylvan Learning Ranks No. 98 on Entrepreneur's Franchise 500® List