The Egyptian government revealed in its first annual report due to be presented to the parliament in October, that the Egyptian economy achieved a real growth rate of 5.6% in 2018/2019, which is the best growth rate achieved in 10 years, and is the third as the best economic growth in the world during the same year (after India and China), and both net exports and investment contributed nearly 80% of this economic growth.
According to the government, the inflation rate fell to 14.4 percent in the first half of the year (2018/2019), compared to 30.2 percent in the same period of the year (2017/2018). The inflation rate was 12.4% in the second half (2018/2019), compared to 13.8% in the corresponding half (2017/2018), and the inflation rate was 13.4% in 2018/2019, compared to 22% in 2017. / 2018).
With regard to the program "Providing funding resources", the government has succeeded in implementing several structural financial reforms in the areas of rationalization and restructuring of public spending, and raise the efficiency of tax collection, which resulted in reducing the overall deficit in the public budget from 9.7% in FY 2017/2018, to 8.2% in FY 2018/2019, achieving 102% of the 8.4% target in the same year.
Source (Youm7 Website, Edited)
