Skip to main content

Egypt’s non-oil sector suffering under high inflation: Report

Egypt is experiencing rising inflation and the depreciation of its currency, but the country’s stock exchange is doing well and the IMF recently agreed to a massive aid package.
A man counts Egyptian pounds at a currency exchange shop in downtown Cairo on Nov. 3, 2016.

A leading credit rating agency released a dire report on the Egyptian economy Sunday. 

The New York-based S&P Global said Egypt’s Purchasing Managers’ Index fell from 47.2 in December to 45.5 in January. This was the sharpest drop since late 2020. 

Access the Middle East news and analysis you can trust

Join our community of Middle East readers to experience all of Al-Monitor, including 24/7 news, analyses, memos, reports and newsletters.


Only $100 per year.