(MENAFN) Egypt's economy is predicted to see a sharp fall in the coming year, predicting GDP growth to slow down by 1 percent, lower 3 percent.
Accordingly, key interest rates will hike by 150 points in the upcoming monetary meeting on Dec 23 to absorb the fast-tracking inflationary pace.
On the other hand, the country's core inflation annually increased to 20.73 percent in Nov compared with 15.72 percent in Oct.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.