ICEC

Egypt’s Q4 GDP growth highest since 2009: c.bank

Egypt’s economy grew at its fastest pace in 7 years during the fourth quarter of the 2016/2017 financial year, its central bank said in a recent report.

Gross domestic product (GDP) in Egypt during the fourth quarter rose to 5 percent in the light of the recent economic reform measures which included floating the Egyptian pound and rationalising fuel consumption last year, the Central Bank of Egypt said.

Inflation rate in the North African country fell to 11.9 percent in the first quarter of the 2017/2018, the lowest level since 2011/2012, the central bank added.

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