PHOTO
Image used for illustrative purpose. International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S., as IMF Managing Director Christine Lagarde meets with Argentine Treasury Minister Nicolas Dujovne September 4, 2018.
The International Monetary Fund (IMF) has cut its forecast for Egypt's real gross domestic product (GDP) growth by 0.5% and 1% for the current and next fiscal years (FYs) 2024/2025 and 2025/2026, according to January’s World Economic Outlook Report.
The global organization now expects Egypt's real GDP to hit 3.6% in FY 2024/2025 and 4.1% in FY 2025/2026.
In October's projections, the IMF anticipated that Egypt would manage inflation at a faster rate during the current FY 2024/2025, with inflation forecasted to drop to 21.2%.
Egypt is expected to receive a new tranche worth $1.2 billion from the International Monetary Fund (IMF) in January.
In December, The IMF and the Egyptian government reached a staff-level agreement on the fourth review of the Extended Fund Facility (EFF).
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