Egypt’s Minister of Planning, Hala El-Saeed, announced on Saturday that the economic reform programme helped the country accomplish the growth rate of 5.5 percent, the highest rate in the past 10 years. During the 44th annual meeting of the Islamic Development Bank (IsDB) that took place in Morocco over the weekend, the minister highlighted the developments achieved by the reform programme to Adviser to Pakistan’s Prime Minister on Institutional Reforms and Austerity Ishrat Hussain. The monthly inflation rate to dropped to 11.1 percent in December 2018, the lowest rate since 2016. In addition, the average inflation rate in the first half of 2018/2019 is noted to be 14.2 percent in comparison to 30.2 percent, the rate of the previous period 2017/18. The minister shed light on the legislative and institutional reforms implemented by the government, which aim to regain the trust of investors as well as become an attractive candidate once again through “reducing the restrictions on the exchange rate, boosting foreign currency reserves and bringing down both the deficit of state budget and public debt.” The government also reform program included social protection for Egypt’s most underprivileged segment of society…
Egypt’s Economic Growth Rate Soars to 5.5%, the Highest Rate in a Decade
April 7, 2019
