Egypt's non-oil private sector economy reached a 33-month high in May, with PMI rising to 49.6.

Egypt's non-oil private sector economy hit a 33-month high in May, with the Purchasing Managers' Index (PMI) rising to 49.6 from 47.4 in April. This follows a 40% devaluation of the Egyptian pound in March, which resolved a foreign-exchange shortage and enabled financing deals with the International Monetary Fund and others. The improved economic conditions led to lower inflation, increased client spending, and better business confidence.

June 04, 2024
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