Dr. Mostafa Madbouly, the Egyptian Prime Minister revealed that net foreign reserves rose to $42.5 billion in last December compared to $24 billion in December of 2017. The core inflation rate dropped to 8 percent in last November compared to 30% in July 2017.
Mostafa Madbouly said in his speech at the Third MENA Investment Conference in Cairo, that the GDP growth rate was 5.3 per cent in the fiscal year 2017-2018 compared to only 4.2 per cent in the fiscal year 2015-2016.
He also pointed out that the unemployment rate fell to less than 10 percent in the third quarter of 2018, from 12.5 percent in 2016, as well as the fiscal deficit which fell to 10.5 percent in fiscal year 2017-2018 compared to 12.5 percent two years ago, adding to that, the current account deficit declined to -2.4% during the fiscal year 2017 -2018 from -6.1% registered in the fiscal year 2016 - 2017 ".
Source: (Al-Arabiya.net, Edited)
