Egypt’s Inflation Remains High

Ioannis K

‘Fruit Cairo’ Maureen from Buffalo, USA, CC BY 2.0, via Wikimedia Commons

As of February Egypt’s inflation sat at 32.9%. It has faced economic difficulties since the covid pandemic and the Russian invasion of Ukraine. Egypt has devalued its currency by half since March 2022.

In December, Egypt secured a $3 billion financial support package from the International Monetary Fund.