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.
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.
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