us bank praises egypts economic measures
Last Updated : GMT 09:07:40
Egypt Today, egypt today
Egypt Today, egypt today
Last Updated : GMT 09:07:40
Egypt Today, egypt today

US bank praises Egypt's economic measures

Egypt Today, egypt today

Egypt Today, egypt today US bank praises Egypt's economic measures

The Central Bank of Egypt
New York - Mena

The US Goldman Sachs bank praised on Wednesday economic measures taken by the Egyptian government and the Central Bank of Egypt to give a push to the Egyptian economy.

In its reports, Goldman Sachs described the fiscal picture in Egypt as “improving.”

The CBE seeks to make short-term economic changes with an aim of reducing the inflation rate from November to December 2017, GS said.

For the first time, Egypt targets a 0.4% surplus of the Gross Domestic Product in the 2017/2018 budget, the report noted.

In addition, the Egyptian government plans to reduce the debt-to-GDP ratio from 98.4 percent in the 2016/2017 FY to 87.7 percent in the 2017/2018 FY, the report added.

The report also expected the Egyptian pound to gradually increase against the US dollar.

Source : Mena

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us bank praises egypts economic measures us bank praises egypts economic measures



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