Egyptian Prime Minister Dr. Mostafa Madbouly revealed a decrease in the general inflation rate by 8.3 percent in June 2024 compared to the same period last year.
During a meeting of the Egyptian Council of Ministers, at the government headquarters in the new city of El Alamein, Dr. Mostafa Madbouly confirmed that “one of the most important improvements in economic indicators is the downward trend in the inflation rate, reaching 27.5 percent in June 2024 compared to about 35.8 percent during the same month of the past year. Core inflation rates also decreased during the same period to record 26.7 percent in June 2024, compared to about 41 percent during the same month last year.”
He pointed out "the significant improvement in cash reserve levels and their rise to the level of $46.4 billion, which secures Egypt's needs for a period that greatly exceeds internationally accepted standards as safe levels, and thus enhances the solidity of the Egyptian economy."
Source (Al-Khaleej Emirati Newspaper, Edited)
