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Elham AbolFateh

Business

The World Bank praises CBE for taking wise measures to reduce inflation

Friday 20/April/2018 - 07:53 PM
Sada El Balad
Ahmed Moamar
Jihad Azaour، Head of Middle East and Central Asia at the World Bank، lauded measures taken by the Central Bank of Egypt( CBE) to ameliorate the monetary policies.
He touted those policies as effective ones that led to reduce inflation percentage gradually.
Within less than one year the rate of inflation dipped from 33% to under 16%.
It is expected that this rate may down further to 13-14% by the end of the standing year. 
Az’our further said on the sidelines of a news conference held today in Washington DC، that downing inflation in Egypt is an outstanding accomplishment.
It proves interaction of financial markets with measures taken in Egypt.
He pointed out that the CBE succeeded in reducing rates of interest. 

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