WB expects Egypt's growth rate to increase by 4.5%
Cairo - MENA
The World Bank (WB) expected Egypt's economy to achieve a growth rate of 4.5 percent in the 2017/2018 fiscal year.
In its Middle East and North Africa Economic Monitor report, the World Bank expected the growth rate to hit 5.3% in 2019, the same percentage expected by the International Monetary Fund in its World Economic Outlook report issued on Tuesday.
The bank further expected Egypt's inflation rate to slump to 23.3%, 22.1% and 14% in 2017, 2018 and 2019 respectively.
The WB report was issued on the sidelines of the meetings of the International Monetary Fund and the World Bank, which kicked off in Washington earlier on Tuesday and will end on Sunday.
Representing Egypt at the meetings are Governor of the Central Bank of Egypt Tareq Amer, Minister of Investment and International Cooperation Sahar Nasr and Finance Minister Amr el Garhy.
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