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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    IMF praises economic reforms in Egypt

    Rocky
    Rocky
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     IMF praises economic reforms in Egypt Empty IMF praises economic reforms in Egypt

    Post by Rocky Sat 14 Oct 2017, 3:00 am

    [size=30]IMF praises economic reforms in Egypt[/size]
    14/10/2017 10:03 | Number of readings:
    font size:  IMF praises economic reforms in Egypt Font_decrease  IMF praises economic reforms in Egypt Font_enlarge
     IMF praises economic reforms in Egypt Thumbnail.php?file=lvl2k20170926073421_627332388
    [rtl]Trend Press / Agencies[/rtl]

    [rtl]The head of the International Monetary Fund (IMF) mission in Egypt praised the economic reforms implemented by the Egyptian government and said it had "started a very strong start."[/rtl]
    [rtl]"The measures taken by the authorities were bold, and we agree that imbalances that impede growth and job creation should be reversed," Lal said on Saturday.[/rtl]
    [rtl]The IMF said in a report that the results were positive although Egypt had asked for some targets to be released in June and had seen a larger-than-expected decline in the currency.[/rtl]
    [rtl]But the IMF said inflation remained a threat to stability, adding that "if sustained and sustained inflation could pose a threat to macroeconomic stability, it could also hamper the credibility of the new monetary policy framework."[/rtl]
    [rtl]Inflation in Egypt hit its highest level in 30 years in July after raising fuel prices under the fund agreement.[/rtl]
    [rtl]The IMF forecast that the country's current account deficit would fall to 4.6% of GDP in fiscal year 2017-2018 and 3.8% in 2018-2019.[/rtl]
    [rtl]He added that the initial budget deficit is expected to reach 1.8% of GDP, which exceeds the target level of the program of 1%.[/rtl]
    [rtl]The fund said the funding gap in Egypt's budget for 2017-2018 is $ 2 billion after the latest installment of the loan, noting that the government has assurances about funding for the period.[/rtl]


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