The International Monetary Fund (IMF) forecast Egypt's economy to grow 5.9 percent in the fiscal year ending next June, unchanged from its April forecast, but below the government's target of 6-7 percent.
In its Global Economic Prospects report, the IMF lowered its forecast for consumer price inflation in fiscal year 2019-2020 to 10 percent from 12.3 percent six months ago.
The IMF expects an improvement in Egypt's unemployment rate, which will drop to 7.9 percent in the current fiscal year from its previous estimate of 8.3 percent six months ago. The IMF also predicted an unemployment rate of 8.6 percent in the 2018-2019 fiscal year, lower than its April forecast of 9.6 percent.
The IMF expects an improvement in Egypt's unemployment rate, which will drop to 7.9 percent in the current fiscal year from its previous estimate of 8.3 percent six months ago. The IMF also predicted an unemployment rate of 8.6 percent in the 2018-2019 fiscal year, lower than its April forecast of 9.6 percent.
It also expected that the working-age population in Egypt will reach 80 million by 2028, considering that creating jobs for many people will be a challenge for the state.
Source (Al-Khaleej newspaper, Edited)
