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Elham AbolFateh

Business

CBE forecasts inflation to retreat in February

Monday 18/December/2017 - 09:53 PM
Sada El Balad
Ahmed Moamar
The Central Bank of Egypt (CBE) said that the bank's monetary tightening measures contributed to reduce inflation rates during the period from August to September last year.
Experts of the CBE are expecting that these measures will affect inflation rates to reach 13% in February 2018.

Policy of restraint reflected positively on reduction in inflationary pressures on the whole economic system.
This led to boost real interest rate increases and the real exchange rate، according to a report authored by the Bank.

The CBE revealed that food commodities will continue in recovery of inflation.
On the other hand، growth rates in Egypt will be sustained owing to exports، domestic and foreign investment.
Recovery is expected in of several sectors، including tourism، construction and non-oil manufacturing industries 

The CBE added that the government reforms are expected to continue to achieve comprehensive and sustainable growth rates next year. 

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