Production Continues in Egypt Despite Coronavirus -- IDSCSource: www.export-egypt.com 9/21/2020, Location: Africa |
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The Cabinet’s Information and Decision Support Center (IDSC) has issued a report on Egypt’s achievements during the coronavirus pandemic.
The Egyptian economy was hit by the negative impact of coronavirus as all global economies, the report acknowledged, noting however that economic reforms and development projects helped maintain the production process in the country. The report touched upon a decline in the overall deficit by 7.8 percent of the Gross Domestic Product compared with 8.2 percent in 2018-2019. The urban inflation rate ticked down to 3.4 percent in August from 7.2 percent in January 2020, it noted. Egypt’s agricultural exports exceeded four million tons in the period between January and September 2020, the report said. It made it clear that the deficit in the balance of trade went down by 8.6 percent in June 2020. |
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