• Egypt’s Inflation Decelerates For The Second Consecutive Month

  • Jan 13 2025
  • Length: 1 min
  • Podcast

Egypt’s Inflation Decelerates For The Second Consecutive Month

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  • Summary

  • The country’s headline inflation for December 2024 slowed to about 24.1%, down from 25.1% in November. December’s figure was the lowest since 2022. The latest inflation rate has raised hopes of the first interest rate cut since 2022. The Central Bank of Egypt has held its interest rates since March 2024. The Egyptian government also agreed to cost-cutting measures, including the gradual removal of fuel subsidies and divestment from state-owned enterprises. The government recently sold 30% of its stake in state-owned United Bank. The IMF signed an $8 billion loan deal with the government in 2024, with the country on track for the disbursement of a $1.2 billion tranche of the loan.

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