World Economic Outlook projects Egypt’s inflation rate to rise slightly higher than expected

Source: Madamasr

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Original Link: https://madamasr.com/en/2018/10/09/news/economy/world-economic-outlook-projects-egypt-inflation-rates-to-rise-slightly-higher-than-expected/

Projections for the rate of inflation in Egypt in the current and coming year increased slightly in the World Economic Outlook (WEO) report, which was released on Tuesday by the International Monetary Fund and World Bank.

The October report projected that Egypt’s inflation rate would hit 20.9 percent in 2018, up from the 20.1 percent that the WEO projected in its April report. The new report also forecast that Egypt’s inflation rate would hit 14 percent in 2019, compared to the April estimate of under 13 percent for the same year.

The October outlook was released during the IMF and the World Bank’s annual meetings, which were took place this year in Bali, Indonesia. The meetings, which are taking place on the 10th anniversary of the 2008 financial crisis, were launched on Monday and will last until October 14. This year’s annual meetings come amid turbulence in emerging markets and a surge in global oil prices.

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