中文字幕无码久久人妻_中国无码a一级刺激片_国产综合色产在线观看_色多黄片资源2020

Africa  

IMF expects Egypt's current account deficit to shrink to 2.6 pct of GDP

Source: Xinhua   2018-07-13 01:40:43

CAIRO, July 12 (Xinhua) -- The International Monetary Fund (IMF) predicted Thursday Egypt's current account deficit will fall to 2.6 percent of its GDP in 2018-2019 from 4 percent in its previous review.

The IMF, in a report published on its website, said the macroeconomic conditions in Egypt have continued to improve during 2017-2018, with external and fiscal deficits narrowing.

The report expected Egypt's GDP to grow up to 5.5 percent in the same period.

It added the ongoing monetary policy stance appears appropriate to contain the effects of the rising fuel and electricity prices.

In June, Egypt increased fuel and electricity prices by up to 66.6 percent and 26 percent respectively, as required by the IMF to continue the implementation of the country's economic reform program.

Over several years of instability due to political turmoil, Egypt has been suffering economic recession in the past years. It devaluated its local currency in November 2016 as part of a strict three-year economic reform program based on austerity measures, including fuel and energy subsidy cuts and tax hikes.

The liberalization of the Egyptian pound's exchange rate encouraged the IMF to support Egypt's economic reform plan with a 12-billion-U.S. dollar loan, two thirds of which has been delivered already.

Editor: Mu Xuequan
Related News
Home >> Africa            
Xinhuanet

IMF expects Egypt's current account deficit to shrink to 2.6 pct of GDP

Source: Xinhua 2018-07-13 01:40:43

CAIRO, July 12 (Xinhua) -- The International Monetary Fund (IMF) predicted Thursday Egypt's current account deficit will fall to 2.6 percent of its GDP in 2018-2019 from 4 percent in its previous review.

The IMF, in a report published on its website, said the macroeconomic conditions in Egypt have continued to improve during 2017-2018, with external and fiscal deficits narrowing.

The report expected Egypt's GDP to grow up to 5.5 percent in the same period.

It added the ongoing monetary policy stance appears appropriate to contain the effects of the rising fuel and electricity prices.

In June, Egypt increased fuel and electricity prices by up to 66.6 percent and 26 percent respectively, as required by the IMF to continue the implementation of the country's economic reform program.

Over several years of instability due to political turmoil, Egypt has been suffering economic recession in the past years. It devaluated its local currency in November 2016 as part of a strict three-year economic reform program based on austerity measures, including fuel and energy subsidy cuts and tax hikes.

The liberalization of the Egyptian pound's exchange rate encouraged the IMF to support Egypt's economic reform plan with a 12-billion-U.S. dollar loan, two thirds of which has been delivered already.

[Editor: huaxia]
010020070750000000000000011105091373204991