Tuesday, 13 November 2018 03:57 GMT
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Egypt sees greater rebound in non-oil sector in July



(MENAFN) Egypt was unveiled by Emirates NBD in its new Egypt PMI survey to have witnessed a bigger rebound in its non-oil private sector in July.

The greater recovery was explained to have been driven by gradual monetary policy normalization, better political stability as well as a robust in the tourism sector.

The Emirates NBD Purchasing Managers' Index (PMI) covers original data compiled from a monthly survey of business conditions in the Egyptian private sector.

"The positive PMI reading for the first month of the new fiscal year supports our view that real GDP growth will strengthen in 2018/19," as stated Emirates NBD's Mena economist Daniel Richards.

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Egypt sees greater rebound in non-oil sector in July

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