Economic indicators improve, Central Bank decides to keep rates steady ...Egypt

EGYPT INDEPENDENT - Economy

The Central Bank of Egypt has forecast a recovery in the country’s Gross Domestic Product (GDP) in the near future. This follows a slowdown in real GDP growth rates caused by the Suez Canal crisis and its impact on the services sector. In a statement released on Thursday, the Central Bank’s Monetary Policy Committee detailed the reasons behind its decision to maintain overnight deposit and lending rates. The committee noted that domestically, real GDP growth slowed to 2.2% in the first quarter of 2024 compared to 2.3% in the fourth quarter of 2023. This slowdown was attributed to a decline in the public sector’s contribution to economic activity due to the impact of the Suez Canal crisis on

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Last updated : 06 September 2024 clock 06:09 AM

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Economic indicators improve, Central Bank decides to keep rates steady ...Egypt

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