Finance Minister expects declining inflation rate in second half of 2017

Finance Minister Amr el Garhi stressed on Monday that the liberalization of exchange rate has pushed inflation rate down to hit 10 percent in the second half of 2017.

Since the exchange liberalization decision and till November 20, foreign investments in Egyptian treasury bills hit 500 million dollars, expecting these figures together with foreign investments in Egyptian stocks to exceed 2010 levels that hit between 10 to 12 billion dollars, the minister said while speaking at the third conference of the executive presidents.

The conference is organized by El Maal newspaper with the participation of 600 investors.

He noted that the IMF review of the Egyptian economy's performance will cover all measures taken lately by the government especially in Upper Egypt to address the deficit of the budget, which the government seeks to decrease to 10 percent.

IMF reviews of the Egyptian economy are included in the 12-billion-dollar loan deal.

The review will also include the economic reform program adopted by the government.