Egypt’s eco­nomic growth to reach 5.7% in 2019: WB

The Daily News Egypt - - Business -

in an ef­fort to repa­tri­ate the coun­try’s in­vestors af­ter the 2011 up­ris­ing.

“Head­line in­fla­tion in Egypt re­mains near its 2018-end tar­get level of 13%, de­spite edg­ing up re­cently. Core in­fla­tion has been con­tained and the Cen­tral Bank of Egypt has con­ducted two pol­icy rate cuts in 2018, de­spite tighter ex­ter­nal fi­nanc­ing con­di­tions,” the re­port stated.

On a global base, the WB fore­casts that the global eco­nomic growth will slow down to reach 2.9% in 2019, from a down­wardly re­vised 3% in 2018 amid ris­ing down­side risks.

The WB fur­ther ex­plained that the out­look for the global econ­omy “has dark­ened” as global fi­nanc­ing con­di­tions have tight­ened, trade ten­sions have in­ten­si­fied, and some large emerg­ing mar­kets and de­vel­op­ing economies ex­pe­ri­enced sig­nif­i­cant fi­nan­cial mar­ket stress.

No­tably, this would be the se­cond straight year of a slow­ing growth, as the global econ­omy reached 3% last year, from 3.1% in 2017.

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