Arab Republic of Egypt : Third Review Under the Extended Arrangement Under the Extended Fund Facility, and Requests for a Waiver of Nonobservance of a Performance Criterion and for Modification of a Performance Criterion-Press Release; Staff Report; and Statement by the Executive Director for the Arab Republic of Egypt.

Format:

Book

Government document

Author/Creator:

International Monetary Fund. Middle East and Central Asia Dept.

Contributor:

International Monetary Fund, contributor.

Series:

IMF Staff Country Reports; Country Report ; No. 2018/213

IMF Staff Country Reports

Language:

English

Subjects (All):

Monetary policy--Egypt.

Monetary policy.

Economic development--Egypt.

Economic development.

Physical Description:

1 online resource (81 pages).

Place of Publication:

Washington, D.C. : International Monetary Fund, 2018.

Summary:

Macroeconomic conditions have continued to improve during 2017/18, with external and fiscal deficits narrowing, inflation and unemployment declining, and growth accelerating. The near-term growth outlook is favorable, supported by the recovery in tourism and rising natural gas production, while the current account deficit has fallen below 3 percent of GDP and gross international reserves stood at 7 months of prospective imports at end-May. Inflation is expected to temporarily rise in 2018/19, reflecting increases in fuel and electricity prices, but the monetary policy stance appears appropriate to contain second-round effects. The government debt ratio is projected to decline markedly in response to fiscal consolidation and high nominal GDP growth.

Notes:

Description based on print version record.

ISBN:

9781484367001

1484367006

9781484367063

1484367065