Fitch expects inflation rates in Egypt to decline on annual basis ...Egypt

The Fitch credit ratings agency expects a decline in Egypt’s inflation rate on an annual basis during the second half of this year, due to the increase in the Base Year. It explained in a report on Friday that the macroeconomic situation in Egypt will remain difficult during 2024-2025 as a result of relatively weak growth. Adjusting the exchange rate would provide an incentive for the International Monetary Fund (IMF) to agree to an enhanced support program for Egypt, it noted. The agency said that though Egypt will continue to face economic and financial challenges, the Ras al-Hikma deal – worth a total of US$35 billion – would ease external liquidity pressures and facilitate adjusting the

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Fitch expects inflation rates in Egypt to decline on annual basis ...Egypt

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