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The IMF anticipates that the Egyptian economy will grow by 5.5% in 2019



International Finance Fund (IMF) Tuesday said that the Egypt economy will grow 5.5% this year, without changing from the October releases and 5.9% in 2020.

In the World Economic Outlook, the IMF raised its forecast for consumer price inflation in 2019 to 14.5% from 14%, and expected to fall to 12.3% in 2020. t

Egypt's GDP grew 5.3% last year, when inflation was 20.9%.

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The IMF expects that the current deficit in the current year will be to 2.4% of GDP, as in 2018, without amendment from the October Fund forecast.

Egypt signed up with the IMF's three-year $ 12 billion loan program at the end of 2016, trying to regain overseas investment after the 2011 rebellion.

The government has put in place strong reforms, including a significant reduction in the money, significant cuts in energy subsidies and the introduction of value tax, with many of the 100 million Egyptians doing t difficulties for life.

Egypt will remove the rest of the subsidies on most energy products in June 15, the IMF said in a letter in January that the IMF announced Saturday as part of a loan review t .


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