PM reports economic gains, foreign reserve growth

CAIRO, Aug 13 (MENA) – Prime Minister Mostafa Madbouly said that the economy is showing strong performance, with foreign reserves rising on the back of real economic activity. Inflation dropped to 13.1 percent in July from 14.4 percent in June, with the second-quarter average down nearly half from last year.…

Cabinet spox: pound’s rise shows strength of economy

Cabinet spokesperson Mohamed al-Homsani said that the stability of the exchange rate and the rise of the Egyptian pound against the US dollar reflect the strength of economic activity, not inflows of speculative capital. In radio statements, al-Homsani added that inflation fell from 14 percent to 13 percent in July,…