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Elham AbolFateh

Egypt

Planning Minister: inflation rate declined to 17%

Sunday 25/February/2018 - 11:14 AM
Sada El Balad
Sada ElBalad- Basant Ahmed
Planning Minister Hala al-Saeed said Sunday that the growth rate reached 5.3%، thanks to the increase in investments، exports and production.

In a statement to Extra news satellite channel، al-Saeed assured that inflation reached its highest level in last July، but it began to decline to 17% as a result of the production increase.

The increase in production helped in creating employment opportunities and thus reducing unemployment rate to 11.3%، the minister added.

Egypt’s annual inflation rates declined in January 2018 to the lowest levels since the country floated its currency in November 2016، according to data released by the Central Bank of Egypt (CBE) and the state statistics agency CAPMAS.

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