Rate of Growth goes up to 6%, inflation declined to 2.9%

The Central Bank of Egypt in its report on the performance of the economy, said the rate of growth went up to 6% against 5.7% in 97198 and the rate of inflation declined to 2.9% annually against 4.5% in 97/98. The report also indicated that the state budget deficit hit 1.3% of the Gross Domestic Production (GDP) whereas the trade balance improved as its deficit dropped to $1.7 billion against 2.5 billion in 97/98.