May 13th, 2008
External Factors Aggravates Egypt's Inflation Problem…
Inflation rates are on the rise on a monthly basis, but the government has taken some measures that managed to control local prices of some commodities. This might slow down the huge surge in inflation rates that hit 16.4% in April 2008 versus 15.8% in March 2008. On top of that, Egypt’s plan of reducing its budget deficit to GDP by 1.0%
annually has been delayed on the back of a rising subsidy bill. The government is also concerned about social and political stability.