Reuters Next: Egypt's sovereign fund head says he thinks inflation has peaked

Telecom Egypt SAE

09/11/2023 17:15

NEW YORK, Nov 9 (Reuters) - Inflation that has
accelerated in Egypt to record levels appears to have peaked,
and the weakening of a devalued currency is good for controlling
the costs of production, the head of Egypt's Sovereign Fund
Ayman Soliman said on Thursday.
    Speaking in an interview at the Reuters NEXT conference in
New York, Soliman also said there had been good uptake of assets
in Egypt's hospitality and tourism sector, one of the areas in
which the government is trying to boost private sector
participation and raise revenue by selling state holdings. 
    

 (Reporting by Dan Burns
Writing by Aidan Lewis
Editing by Mark Heinrich)
 ((Aidan.Lewis@tr.com; +20-1001174410;))